Coin Edition -
- The founder of ssv.network announced that he was being drafted due to the horrific Israel and Palestine conflict.
- Lookonchain reported that two wallets had completely sold their entire SSV.
- The surging trading volume could be a sign that traders are taking advantage of this bearish sentiment.
The horrific Israel and Palestine war has barged its way into the crypto market causing devastations at everything it touches. With a heavy heart, Alon Muroch, an Israeli entrepreneur and founder of ssv.network, recently shared a dismaying message on X (formerly known as Twitter), expressing, “I got drafted, the situation on the ground is significantly worse than described. Massacre is the only word that comes to mind. 90% civilians (families) We are turning the tables, it won’t be short nor pretty.”
I got drafted, situation on the ground is significantly worse than described.Massacre is the only word that comes to mind. 90% civilians (families)We are turning the tables, it won’t be short nor pretty.— Alon Muroch (@AmMuroch) October 11, 2023
A few hours after this message was posted, the market on-chain analytics platform Lookonchain reported that two wallets had completely sold their entire SSV, the native token of ssv.network. The first wallet ikuvc.eth deposited 10,000 $SSV($142K) to Binance and the second wallet 0xF447 deposited 8,055 $SSV to Binance also. Few crypto members believe this is a response to the recent developments that have taken place.
Affected by the @ssv_network founder(@AmMuroch) being drafted, only 2 wallets sold their entire $SSV.ikuvc.eth deposited 10,000 $SSV($142K) to #Binance.And 0xF447 deposited 8,055 $SSV($115K) to #Binance.Good luck to @AmMuroch!https://t.co/KcMsG9bgvd pic.twitter.com/lgWP3qIOtO— Lookonchain (@lookonchain) October 11, 2023
The social media platforms have currently become a heated arena as users continue to debate over the Palestinian and Israel conflict. Similarly, the crypto community also seems fazed by this abominable argument. Several members wished Muroch “good luck” hoping for his safe return soon.
SSV seems to have dug a deeper hole in the red zone after facing a catastrophic fall of 10.88% over the week. The altcoin started this week by trading above the $15 level; however, it currently trades at $14.07 with a 3.56% tumble in 24 hours. Despite facing a fall continuously, CoinMarketCap has reported that traders’ demand for SSV is still surging as the trading volume is valued at $16,818,146 after witnessing a 205.29% spike.
This could be a sign that optimistic traders have taken advantage of this bear market by entering when the price has fallen in the hopes of gaining profits in the future. If the number of buyers continues to grow over the next few days, then, SSV has the potential to reach new levels of resistance levels.
The post SSV Demand Soars Amid Israel-Palestine Crisis! What Traders Need to Know NOW! appeared first on Coin Edition.