Ethereum Sell Pressure: Jump Trading Offloads $29M, $63M More On The Horizon
Portfolio Pulse from Murtuza Merchant
Jump Trading has sold over 36,000 ETH and plans to sell more, contributing to Ethereum's price decline. Other market makers like Wintermute and Flow Traders are also selling significant amounts of ETH. Despite this, some analysts remain optimistic about Ethereum's future due to high demand for ETH ETFs.
August 07, 2024 | 2:14 pm
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Jump Trading has sold over 36,000 ETH and plans to sell more, contributing to Ethereum's price decline. Other market makers like Wintermute and Flow Traders are also selling significant amounts of ETH. Despite this, some analysts remain optimistic about Ethereum's future due to high demand for ETH ETFs.
The aggressive selling by Jump Trading and other market makers is creating significant downward pressure on Ethereum's price. However, the high demand for ETH ETFs suggests potential for a price rally if the trend continues.
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