VOT Research Desk
The price of ethereum exhibits little volatility as it stays above a significant support level. Upside movement is unlikely unless it clears one bigger obstacle.
As a result, ETH keeps consolidating while waiting for a BTC signal. On November 27, Twitter user Cygar launched the wETH bankruptcy/depeg story as a hoax.
Ironically, the Twitter user had previously stated on November 26 why wETH can never be insolvent. The purpose of the test, according to Cygar, was to determine who was reading his content.
ATTENTION: WETH is about to be insolvent. I will begrudgingly bail out anyone holding WETH at a rate of 0.5 ETH per WETH in order to save this space. You can thank me once the crisis has been adverted.
The joke became viral on Twitter after being contributed to by numerous well-known Ethereum users, leading major media outlets like Bloomberg to report on this hoax. Although the majority of the community is aware of this, there are
