According to Arkham Intelligence, a wallet allegedly controlled by the US government transferred 300 ETH ($699,000) to an address ending in "d46" on August 5.
- The funds were confiscated by the government.
- ETH price plunges after US ETF launch.
- Independent Crypto Lion analyst points to weak demand on exchanges.
- The situation was made worse by the Bank of Japan raising interest rates.
- CoinShares reports $146 million outflow from Ethereum funds in a week.
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