#ethereum #criptonoedas #InvestimentoCripto
The cryptocurrency market has been experiencing major movements in recent days. Jump Trading, one of the largest companies that buys and sells cryptocurrencies to ensure market liquidity, sold a large amount of ether (ETH), the cryptocurrency of the Ethereum network. This has caused many people to worry that the price of $ETH could fall even further.
ETH Sales by Jump Trading
On August 7, Jump Trading sold 11,501 ETH, worth over $29 million. It also withdrew $48 million worth of ETH for future sales. These actions increased selling pressure in the market, which caused the price of ETH to drop to worrying levels.
Since July 24, Jump Trading has sold over 83,000 units of ETH, helping to push the price below $2,200, its lowest level in five months. Other major firms, including Wintermute and Flow Traders, have also sold large amounts of ETH, furthering the decline.
Can ETH Price Recover?
With Jump Trading's dwindling supply of ETH available for sale, some analysts believe the market may be close to bottoming out. This means that with less ETH for sale, the price could start to rise again.
Michaël van de Poppe, founder of MN Capital, noted that the growing demand for Ethereum ETFs in the United States could outstrip supply, which could drive the price of ETH higher. However, he warns that it is important to remain vigilant as other factors could affect the market.
While Jump Trading appears to be close to finalizing its $ETH sales, market volatility remains high, and investors should keep an eye on future moves.
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*This does not constitute a purchase recommendation.