Ethereum feels the pain of the bearish pressure. Ethereum’s co-founder says that the project moves to the next stage of its evolution. Ethereum has lost over 5% since this time yesterday to trade at $435 to press time. The second largest coin by market value is under pressure due to Bancor hack attack and overall bearish sentiments of the cryptocurrency market. Its market value educed to $44.1B from $47.8 on Tuesday. Meanwhile, Ethereum’s co-founder Joseph Lubin announced that the project moves on to the next stage, which will make the whole ecosystem more scalable and mature. “We’re moving into a space where Ethereum can serve as the layer one trust system, and built into Ethereum we’ll have hundreds of thousands of transactions in the layer two systems and we’re going to see that ramified this year,” he said, speaking at the Rise conference in Hong Kong. Looking technically, ETH/USD came close to the sloping long-term trendline, currently at $425. Once it is broken, critical $400 will come into focus. On the upside, the resistance is created by 100-SMA (4-hour chart) at $455, closely followed by $460 Fibo retracement. ETH/USD, 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD breaks lower to test 1.1700 on resurgent US dollar demand FX Street 4 years Ethereum feels the pain of the bearish pressure. Ethereum's co-founder says that the project moves to the next stage of its evolution. Ethereum has lost over 5% since this time yesterday to trade at $435 to press time. The second largest coin by market value is under pressure due to Bancor hack attack and overall bearish sentiments of the cryptocurrency market. Its market value educed to $44.1B from $47.8 on Tuesday. Meanwhile, Ethereum's co-founder Joseph Lubin announced that the project moves on to the next stage, which will make the whole ecosystem more scalable and mature. "We're moving into… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.