👀👀It is claimed that the real reason for the huge decline in Bitcoin and Altcoins has been revealed! 👀👀

Jump Crypto, one of the important players in the industry, is shown as one of the main reasons for the last major decline in the cryptocurrency market. Onchain data reveals that the company transfers large amounts of Ethereum (ETH). This situation created pressure especially on altcoins and caused the entire cryptocurrency market to lose approximately 4% in value in the last 24 hours, as Bitcoin could not handle this pressure.

Jump Crypto was subject to an investigation by the CFTC in June regarding Terra (LUNA), after which the company's Indian-origin CEO resigned. Additionally, an investigation is also being conducted by the SEC.

The fact that the sales took place at the end of a week when liquidity was low caused volatility to increase. Bitcoin is currently trading at $58,432, having lost its psychological threshold of $60,000.

On the Ethereum side, losses are more evident. ETH price has fallen by 7% in the last 24 hours and is currently trading at $2,700. Onchain data shows that Jump Trading holds a total of $552 million in crypto assets on the Ethereum network; Approximately 520 million dollars of these are in their wallets as stablecoins. Additionally, Jump Trading also has a significant amount of SOL coins on its Solana network. However, because the wallet tagging feature of block explorers on the Solana network is weak, many of the company's wallets cannot be identified, leaving the details of sales unclear.

My dear friends, do not spare your free support. I am trying to bring such news to you instantly. My only request from you is that if there is anyone who still does not follow me, I would be happy if they follow me. Do not forget to like my articles and posts. Thank you.