Ethereum

Impact

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/jump-trading-sells-ethereum-and-influences-the-crypto-market/" data-wpel-link="internal">Jump Trading Sells Ethereum and Influences the Crypto Market</a><br></p>
<p style="text-align: justify">There is a noticeable movement in the <a href="https://en.coin-turk.com/the-performance-of-litecoin-and-bitcoin-in-2023-what-the-data-tells-us/" data-wpel-link="internal">cryptocurrency market</a>. <strong>Jump Trading</strong> has decided to sell Ethereum again. In the past few days, they have withdrawn 11,501 ETH from the Lido platform, preparing these assets for sale. This transaction represents a total value of $29.11 million. Additionally, they have filed for another 19,049 ETH, preparing for a sale worth approximately $48.22 million.</p> 
<h2 style="text-align: justify" id="assets-withdrawn-from-lido">Assets Withdrawn from Lido</h2> 
<p style="text-align: justify">The large amount of Ethereum withdrawn from the <strong>Lido</strong> platform has the potential to create significant market fluctuations. Jump Trading has once again demonstrated its importance in the cryptocurrency markets with this move. The sale of these withdrawn assets could affect the supply-demand balance in the market and cause price fluctuations.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-377744 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/ethereum-2.png" alt="" width="550" height="653"></p> 
<p style="text-align: justify">Jump Trading also holds 21,394 <strong>wstETH</strong> (worth $63.6 million). These assets are being considered as preparation for potential <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> sales. This situation will carry both an opportunity and a risk factor for <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. Because one of the reasons for the previous crash was the sales made by Jump Trading.</p> 
<h2 style="text-align: justify" id="potential-deep-impact-on-markets">Potential Deep Impact on Markets</h2> 
<p style="text-align: justify">The sale of this large amount of Ethereum could lead to fluctuations in the cryptocurrency markets. Investors are closely monitoring how such large sales will affect prices. Jump Trading’s move could emerge as one of the important factors determining the course of the markets.</p> 
<p style="text-align: justify">Looking at the Ethereum price after the move, we see that <strong>ETH</strong> is trading at $2,526. It should be noted that the Ethereum price has remained unresponsive to this move. However, we cannot predict what the upcoming hours will bring. Because, due to an effective drop on Monday, the market has now shifted to a dip-buying strategy.</p> 
<p style="text-align: justify">With the dip-buying strategy, it is likely that the sales to be made by Jump Trading will be absorbed by the cryptocurrency market. Such absorption will prevent the ETH price from falling and may even contribute to its increase.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/jump-trading-sells-ethereum-and-influences-the-crypto-market/" data-wpel-link="internal">Jump Trading Sells Ethereum and Influences the Crypto Market</a></h5>
<p>The post <a href="https://en.coin-turk.com/jump-trading-sells-ethereum-and-influences-the-crypto-market/" data-wpel-link="internal">Jump Trading Sells Ethereum and Influences the Crypto Market</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Jump Trading Sells Ethereum and Influences the Crypto Market

Table of Contents

COINTURK NEWS

Other articles published on Aug 7, 2024

Bybit Hits Record-breaking 107 Billion Daily Trading Volume

Peter Brandt: Bitcoin’s decline mirrors 2016, here’s what it means now!

Kamala Harris Hires Advisors Linked to Binance Amid Crypto Concerns

Only One of the Last 30 Altcoins Listed on Binance Has Surged in Price

Leader Of The Pack: Rollblock (RBLK) Rejects Red Trend, Savvy Investor Eyes FLOKI And JASMY For P...

Morgan Stanley Clients Get Permission to Expand Bitcoin ETF Investments Starting Today

Join our free newsletter for daily crypto updates!