Big news! Is the Ethereum hype over? Are businesses selling altcoins purchased before approval?

UNI is also selling coins

After the U.S. Securities and Exchange Commission (SEC) approved the Ethereum ETF, previously collected altcoins began to be sold. Many investors have been waiting for the approval of the Ethereum spot ETF for the past few months. In the meantime, investors have bought some altcoins. A June 6 Twitter post by Spot On Chain, an on-chain data and analysis account, included a sale by a corporate company that bought altcoins in late May amid the excitement of the Ethereum ETF.

The investor deposited 371,000 Chainlink (LINK) on Binance, worth $6.48 million, causing the Binance price to fall.

Uniswap (UNI) is also selling coins

The company also sold 541,000 Uniswap (UNI), equivalent to $5.89 million. The corporate company that conducted this sale through Binance caused the price to fall by about 4%. In fact, most of the altcoins in question were collected before Ethereum received ETF approval, "Is Ethereum hpye over?" This reminds me of some questions. According to CoinGecko data, as of writing, LINK is trading at $17.33, down 4% in the last 24 hours, while UNI is trading at $10.69, down 4.1% in the last 24 hours.