Ethereum (ETH), the world’s second-largest cryptocurrency, has suffered a sharp decline, dropping nearly 13% after briefly touching $2,100. The downturn follows widespread panic triggered by rumors that Binance might remove Ethereum from its platform. However, former Binance CEO Changpeng Zhao (CZ) has refuted these claims, calling them completely false.
Binance’s New Listing Model Sparks Confusion
The controversy erupted after Binance introduced two new community-driven features: ‘Vote to List’ and ‘Vote to Delist.’ These mechanisms allow users to determine which tokens should be added or removed from the exchange.
Following the announcement, misinformation spread rapidly, suggesting that Binance was planning to delist Ethereum. This speculation led to investor panic, particularly among Binance users, who feared a major market disruption if ETH were removed.
CZ swiftly responded, dismissing the rumors and stating that those who believed them “deserve to be poor.” While his remark was aimed at reassuring the crypto community, uncertainty surrounding Ethereum’s future on Binance persisted.
Whoever believes this deserves to be poor. 😂
— CZ 🔶 BNB (@cz_binance) March 28, 2025
Ethereum Price Under Pressure
Despite CZ’s clarification, Ethereum’s price remains under pressure. The cryptocurrency recently lost its key support level at $1,900, raising concerns of further downside movement. Market analysts warn that if selling pressure continues, ETH could test the $1,750 level, with some experts even forecasting a potential drop to $1,500.
However, some traders view the dip as a buying opportunity. If ETH finds strong support around $1,500, it could regain momentum and attempt another push toward the $2,000 resistance level.
Technical indicators paint a bearish picture for now. The Relative Strength Index (RSI) has fallen below the neutral 40 mark, signaling that sellers are in control. A reversal would require a significant shift in market sentiment, potentially driven by renewed investor confidence or positive developments within the Ethereum ecosystem.
Also Read: Ethereum on the Brink: Whale Liquidations Threaten to Drive ETH Below $1,800
Market Outlook
Ethereum’s recent price plunge highlights the volatility of the crypto market, especially in response to speculation and misinformation. While Binance has reaffirmed its support for ETH, traders remain cautious. Whether Ethereum rebounds or continues its downward trend will largely depend on market sentiment and broader macroeconomic conditions.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
