Has the Ethereum Hype Ended? Corporates Are Selling the Altc

--・283 views

See original

Has the Ethereum Hype Ended? Corporates Are Selling the Altcoins They Bought Before Approval! After the US Securities and Exchange Commission (SEC) approved the Ethereum ETF, previously collected altcoins began to be sold. In the past months, many investors have been waiting for spot ETF approval for Ethereum. In parallel, investors made some altcoin purchases. In a post published on Twitter on June 6, on-chain data and analysis account Spot On Chain included the sales made by a corporate company that purchased altcoins in late May, amidst the Ethereum ETF excitement. The investor in question deposited 371 thousand Chainlink (LINK) worth $6.48 million into Binance, causing a drop in price. Uniswap (UNI) also sold coins The corporate whale also sold 541 thousand Uniswap (UNI) equating to a value of $5.89 million. The corporate company, which made this sale through Binance, caused a decrease of approximately 4% in price. The fact that most of the altcoins in question were collected before Ethereum was given ETF approval "Is the 'Ethereum hpye' over?" It brought questions to mind. According to CoinGecko data, while LINK is trading at $17.33 at the time of writing, with a 4% drop in the last 24 hours, UNIK is trading at $10.69, with a 4.1% drop.

Has the Ethereum Hype Ended? Corporates Are Selling the Altcoins They Bought Before Approval!
After the US Securities and Exchange Commission (SEC) approved the Ethereum ETF, previously collected altcoins began to be sold.
In the past months, many investors have been waiting for spot ETF approval for Ethereum. In parallel, investors made some altcoin purchases.
In a post published on Twitter on June 6, on-chain data and analysis account Spot On Chain included the sales made by a corporate company that purchased altcoins in late May, amidst the Ethereum ETF excitement.
The investor in question deposited 371 thousand Chainlink (LINK) worth $6.48 million into Binance, causing a drop in price.
Uniswap (UNI) also sold coins
The corporate whale also sold 541 thousand Uniswap (UNI) equating to a value of $5.89 million. The corporate company, which made this sale through Binance, caused a decrease of approximately 4% in price.
The fact that most of the altcoins in question were collected before Ethereum was given ETF approval "Is the 'Ethereum hpye' over?" It brought questions to mind.
According to CoinGecko data, while LINK is trading at $17.33 at the time of writing, with a 4% drop in the last 24 hours, UNIK is trading at $10.69, with a 4.1% drop.