Altcoin
Peter Schiff Predicts Ethereum Price To Drop Below $1,000, Compares It To Bitcoin And Gold
Bitcoin critic Peter Schiff has revealed grim predictions for the Ethereum price, tipping the second-largest cryptocurrency to see new lows. Schiff says the broader selloff affecting Ethereum will worsen in the coming days and can push prices below $1,000
Peter Schiff Sees Ethereum Price Tumbling Below $1,000
As the market reels from the bloodbath over the weekend, Bitcoin critic Peter Schiff says darker days are coming for Ethereum. In a post on X, Schiff predicts that the Ethereum price will continue the steep correction that will see it fall under $1,000.
The Bitcoin critic is hinging his prediction on the recent jarring price drops faced by the largest altcoin in recent days. The latest correction sees ETH hold onto $1,500 after falling by 20% over the last day.
Ethereum price reached a daily low of $1,400 before gingerly picking its way above the $1,500 mark. Given the grim price action, Peter Schiff says it is only a matter of time till the Ethereum price falls under $1,000 with technicals and fundamentals painting a grim picture.
“Ether crashed below $1,500 for the first time in over two years,” said Schiff. “So far, the intraday low was just above $1,400, a 20% drop overnight. I don’t think it will be long before it breaks below $1,000.”
ETH remains stuck under $2,000 since it slipped below the psychological level back with on-chain indicators showing no signs of a resurgence.
Comparisons With Bitcoin And Gold Reveal Ethereum’s Dire Condition
While optimists may disagree with Schiff’s prediction, historical patterns point to a deeper decline in the Ethereum price. Peter Schiff argues that during the last market crash in mid-2022, Ethereum slipped below $1,000, noting that there is little evidence that the cryptocurrency will trade above the psychological level in the market downturn.
He adds that while the Ethereum price is weak in dollar terms, the asset is faring worse on ETH/BTC charts. A steady downtrend on the ETH/BTC chart confirms massive selling pressure for the Ethereum price, with gold being its “worst-looking chart.”
“It barely held $1,000 in June 2022,” said Schiff. “The chart is horrible, even worse priced in Bitcoin than dollars. Of course, its worst-looking chart is priced in gold.”
Despite the dour predictions, investors say Ethereum price can rally as high as $4,000 but will have to contend with whale selloffs and market risk-on sentiment.
Peter Schiff’s grim predictions extend to the top cryptocurrency with the economist tipping Bitcoin price to $10K. He went on to criticize claims of Bitcoin as digital gold, pointing to steep declines in the face of macroeconomic woes.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Binance, the largest crypto exchange by trading volume metrics, decided to delist 14 altcoins, sending the affected tokens to a free fall.
The platform recently adopted a mechanism to involve its community in the listing and delisting processes.
Binance To Delist 14 Altcoins
The exchange revealed the decision on Tuesday, during the early hours of the Asian session. It would delist and cease trading on all spot trading pairs for the named tokens starting April 16 at 03:00 (UTC).
“Following the Vote to Delist results and completion of the standard delisting due diligence process, Binance will delist BADGER, BAL, BETA, CREAM, CTXC, ELF, FIRO, HARD, NULS, PROS, SNT, TROY, UFT and VIDT on 2025-04-16,” read the announcement.
The selection of these 14 tokens was reportedly based on a comprehensive evaluation of multiple factors. Among them are the level and quality of the development activity, trading volume, and liquidity.
In line with its recent decision to involve the community in its listing and delisting plans, the Binance exchange also held a vote. Reportedly, while it received 103,942 votes from 24,141 participants, only 93,680 proved valid.
“Community voting results were evaluated after rigorous filtering of ineligible votes and invalid votes,” the exchange articulated.
In the immediate aftermath of the delisting announcement, the 14 tokens fell over the cliff, with most recording double-digit losses.
The turnout is unsurprising, as such announcements often cause price drops for affected tokens. A similar announcement was made recently to delist three altcoins: AKRO, BLZ, and WRX. Likewise, their prices dropped by double digits.
What Binance Users Need to Do
Binance said all trade orders will be automatically removed after trading ceases in each trading pair. It will also terminate trading bot services for the aforementioned spot trading pairs immediately after the delisting occurs.
Based on these guidelines, Binance users should update and/or cancel their trading bots before the delisting to avoid any potential losses.
Notably, once the delisting happens, any outstanding assets will be force-sold at market price or moved to the Spot Account if the amount is unsellable. Similarly, the token’s valuation will no longer be displayed in users’ accounts after delisting.
Deposits of these tokens will also not be credited to users’ accounts after the delisting time. Meanwhile, withdrawals of these tokens from Binance will not be supported after June 9 at 03:00 UTC.
“Delisted tokens may be converted into stablecoins on behalf of users after 2025-06-10 03:00 (UTC),” Binance added.
Meanwhile, it is worth noting that while Binance exchange’s move to involve the community in the listing and delisting bolsters democracy, it drew criticism. As BeInCrypto reported, it drew concerns over whether the exchange gave preferential treatment to BSC chain tokens.
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Cryptocurrency exchange giant Binance has once again garnered substantial investor attention with its latest announcement on the restaking protocol KernelDAO. On Tuesday, April 8, the CEX revealed its 4th Megadrop project, KERNEL, whilst also revealing plans to list the token soon. Mentioned below are some of the vital listing details that traders and investors should know as they look to capitalize on such emerging opportunities.
Binance Reveals 4th Megadrop Project KERNEL, Here’s All To Know
In an official press release on Tuesday, Binance Megadrop declared plans to support KernelDAO by adding it as the 4th project on the platform. The platform’s massive user base can participate in this event starting April 9 at 00:00 UTC.
Notably, the crypto exchange clarified that it will be the first platform to list this token. As per the platform’s announcement, any other claims offering sales before the allotted timeline are false.
Here’s The Listing Date
Binance revealed in its announcement that it will list the following trading pairs for KERNEL shortly ahead:
- KERNEL/USDT
- KERNEL/BNB
- KERNEL/USDC
- KERNEL/FDUSD
- KERNEL/TRY
The platform’s users can partake in trading the abovementioned crypto pairs starting April 14 at 12:00 UTC. Further, a seed tag is to be applied next to this asset, signaling high risk and volatility.
More Details On The Megadrop
The Megadrop event on the top crypto exchange will be live from April 00:00 UTC to April 13 at 23:59 UTC. The token, KERNEL, boasts a total token supply of 1 billion coins.
At the time of the crypto’s listing on Binance, the initial circulating supply will be 162,317,496 coins, worth 16.23% of the total token supply. The ‘Hard Cap’ per user is set at 320,000 tokens, per the announcement. Users can move on to the official site for further details regarding the Megadrop participation process.
Notably, KernelDAO is a shared restaking security protocol on BNB Chain. Users can restake BNB, BTC, and other yield-bearing tokens to amass rewards.
Binance Cements Top Ranking With New Offerings
Meanwhile, it’s worth considering that the CEX has continued to secure its top ranking by revealing such opportunities for market participants globally. Intriguingly, the crypto exchange revealed plans to support the Bitcoin staking protocol Babylon earlier this month.
Therefore, the exchange continues to witness growing popularity across the crypto landscape. Meanwhile, some other upcoming listings on the same exchange include Hyperliquid, Mantle, and Kaspa, among other crypto assets.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The rout in the broader digital currency ecosystem did not impact some assets like Fartcoin, the memecoin linked to the Solana blockchain. As against the more than 8% drawdown in the combined market cap at the peak of the selloff on April 7, Fartcoin price maintained a more than 20% uptick.
Per the token’s performance, the speculation of a memecoin-driven market recovery is gaining momentum.
Fartcoin Price and Decoupling Trends
Despite the strong correlation that most digital currencies maintain with Bitcoin, the Fartcoin price displayed rare decoupling today. At the time of writing, the memecoin was changing hands for $0.5482, up by more than 20% in the past 24 hours per CoinMarketCap data.
Beyond the Solana memecoin’s price, other important metrics are also green. For instance, the coin saw its trading volume jump by more than 159% to over $370 million. This proof of engagement has helped the memecoin maintain a steady price above $0.5 amid volatility.
An earlier Fartcoin price analysis explored the prospect of the token soaring to $1.4. Historically, the token has always outperformed the broader market. The currently staged uptick might trigger its sustained rebound in the coming weeks in its bid to hit new heights.
Solana Memecoin Revival: Fartcoin To Lead?
Finding one token to serve as an outlier within a functioning blockchain ecosystem is not uncommon. While top tokens like BONK and Dogwifhat are underperforming, Fartcoin may be geared to lead the broader Solana revival.
The pivot to memecoins is already gaining traction with the rebranding of PumpFun. As reported earlier by CoinGape, the meme launchpad recently launched PumpSwap as a decentralized exchange to power its supported tokens. Shortly after, PumpFun launched PumpFi, a liquidity boost protocol for its users.
PumpFun helped push Solana’s price to a high of $294 before community backlash forced it to take the backstage. However, if the rebrand efforts and the relaunch of the PumpFun livestream turbocharge interest, Solana, Fartcoin, and associated assets may skyrocket further in due course.
Market Outlook to Watch
The headwind suppressing the price of most risk-on assets is the Donald Trump-fueled tariff war. While this is temporary, many digital currencies are poised to regain their lost valuations.
With the stock market correlation with digital currencies, protocols like Solana may pick on other bullish attractions within their ecosystems to stage a rebound. The growing push for a SOL ETF from Fidelity Investments and other asset managers creates a tailwind for the underlying asset.
If all the bullish factors around Solana play out, tokens like Fartcoin may see a retest of $2 in the long term.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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