Ethereum, Binance & Shiba Inu – American Wrap 25 January

Ethereum (ETH) price has been rolling down a cliff since January 12 when news of Grayscale Bitcoin Trust (GBTC) redemptions broke. The slump has seen Ether fall out from below the confines of a bullish technical formation, but that could end soon as the spot ETH exchange-traded funds (ETFs) theme gathers momentum.

Binance Coin (BNB) price correction is close to forming a local bottom, which could trigger a quick and volatile recovery rally. 

BNB/USDT 1-day chart

Shiba Inu laid the foundation for Shibidentity in November 2023 with the introduction of the Shib Name Service. The project has reaffirmed its focus on a web3 identity for market participants to access different platforms and services with a single username.