đ The crypto market is falling sharply due to massive Ether (ETH) market maker sell-offs. Since August 3, the top 5 makers have sold 130,000 ETH (~$290 million), causing the price of ETH to fall from $3,000 to below $2,200.
đč Wintermute: 47,000 ETH
đč Jump Trading: 36,000 ETH
đč Flow Traders: 3,620 ETH
đč GSR Markets: 292 ETH
đč Amber Group: 65 ETH
đ ETH is currently struggling to hold the $2,200 level. More ETH sell-offs could send the price down further and cause panic among investors.
đ Good news: According to MarketWizard, if ETH follows the pattern of the past 2 years, the price could double from current levels.
đ Despite the launch of Ether ETFs in the US, inflows remain low, with $511 million withdrawn from ETFs since launch.
đŹ What do you think about the future of ETH? Comment below! đ
