"Ethereum Declared ’Completely Dead’ by Hedge Fund CIO, Sparking Crypto Industry Debate"

In a recent bombshell declaration, the Chief Investment Officer of Lekker Capital has labeled Ethereum as a dead investment. Here’s what you need to know about the controversial statement and its implications for the crypto market.

Ethereum Declared ’Completely Dead’ as an Investment by Hedge Fund CIO

Quinn Thompson, Chief Investment Officer (CIO) of Lekker Capital, declared in a post that Ethereum (ETH) is “completely dead” as an investment. The comments were made on a post this past weekend and sparked responses from figures in the crypto industry. Thompson cited declines in transaction activity, user growth, and fees/revenues as reasons for his stance, stating that while Ethereum has utility as a network, it does not have an investment case. Other prominent figures in the industry, including Nic Carter of Castle Island Ventures, Columbia Business School professor Omid Malekan, and VB Capital’s Scott Johnsson, also participated in the debate.

DeFi Whales Face Ethereum (ETH) Liquidations

DeFi protocols are facing liquidations as Ethereum (ETH) dipped below $1,900. Maker is one of the major venues for these liquidations, with two major whales potentially facing liquidations totaling over $229M in ETH. The latest market downturn pushed ETH as low as $1,807.77, threatening the liquidation prices of large positions. One whale has a liquidation price of $1,787.86 based on a 171% collateral ratio and has loaned over $68M in DAI. The seized ETH may create selling pressure in the market.

Ethereum To $20K? Investor Highlights Real-World Adoption as Key

Ethereum’s chances of reaching the $20,000 level are being debated among investors and analysts. Ryan Berckmans, an Ethereum investor, believes that practical use is the key to a $20,000 ETH price. He argues that high fees, usually seen as a disadvantage, indicate faith in the altcoin. Berckmans compares Ethereum to Bitcoin, which retains value despite 99% centralized usage, emphasizing the need for Ethereum to focus on real-world growth.

Ethereum Price Analysis: ETH Dropping to $1,800

Ethereum continues to face pressure following its rejection from the $2,100 region, with the price now breaking below key support levels and testing lower demand zones. On the daily timeframe, ETH remains firmly in a bearish structure, consistently printing lower highs and lower lows. The rejection from the $2,200 region and a subsequent breakdown below $1,900 has re-established bearish momentum, with the price now heading toward the next major demand zone around $1,600. The 200-day moving average trends slightly downward and sits far above price action, reinforcing long-term bearish bias. Moreover, the RSI is hovering NEAR the oversold region, but without any bullish divergence or momentum shift, there’s little sign of a reversal.