|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Ethereum Faces Renewed FUD as Ether Prices Drop Sharply
Oct 03, 2024 at 03:45 pm
Ethereum is facing renewed fear, uncertainty, and doubt (FUD) as Ether prices drop sharply. On October 3, on-chain analytics platform Lookonchain reported that a whale, who participated in Ethereum's initial coin offering (ICO) in 2014, has been aggressively selling off their Ether.
A whale, who participated in Ethereum’s ICO in 2014, has been aggressively selling off their Ether.
Over the past two days, this entity sold 19,000 ETH, which is currently valued at over $47.5 million.
The selling spree began in late September, when more than 12,000 ETH was sent to the Kraken exchange.
As a result of the large-scale selling, ETH prices have dropped sharply.
According to data from CoinMarketCap, ETH started the month at $2,650 but hit a low of $2,365 on October 3.
This decline outpaces the broader crypto market, which dropped 2.6% during the same period.
The ETH/BTC ratio also slipped back to 0.039, reflecting concerns among traders.
Crypto trader “Bluntz” noted, “Yikes, even day zero ETH OG’s are jumping ship,” while others criticized Ethereum for dragging the market down.
Despite the challenges, many Ethereum supporters remain optimistic.
Educator Anthony Sassano stated, “The FUD is never-ending,” emphasizing that many in the industry don’t care about the common good.
Additionally, institutional interest seems to be returning, with nine spot Ether ETFs seeing an inflow of nearly $20 million on October 2, primarily driven by BlackRock.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Rexas Finance (RXS): A Promising New Player in the RWA Tokenization Market
- Oct 03, 2024 at 07:05 pm
- There may be a substantial amount of consideration and curiosity in direction of the actions in crypto by the whales – those who maintain some huge cash within the type of digital belongings. These actions particularly by whale holders are normally market movers which are more likely to sign a brand new development.
-
- Despite Promising Outlook for SUI and NEAR in “Uptober,” Experienced Investors Are Increasingly Turning to DTX Exchange, a $0.06 Presale Coin With Massive Growth Potential
- Oct 03, 2024 at 07:00 pm
- In an exciting twist in October, dubbed “Uptober” by investors, Sui (SUI) and NEAR Protocol (NEAR) investors expect significant gains on these tokens.
-
- Mastercard and Amazon Payment Services Partner to Digitize Payment Acceptance in the Middle East and Africa
- Oct 03, 2024 at 06:35 pm
- Under the partnership, Amazon will adopt Mastercard's single touchpoint for payment processing across 40 markets, enabling faster, more secure transactions for merchants.