Ethereum (ETH) is having a tough third quarter. 🐋 A major owner who bought 1 million ETH at $0.31 is actively transferring funds to exchanges. Over the past month, he deposited 48,500 ETH on OKX, equivalent to $154 million.

The launch of the spot ETF did not cause a rise in prices, and outflows from Grayscale increased negative sentiment.

ETH failed to break the $2,750 level and fell 3% in the last 12 hours.