Aave

Ethereum

Uniswap

Lido DAO

In this ongoing bearish market sentiment, today on July 3, 2024, the overall cryptocurrency market experienced a massive downside move. Amid this downturn, Ethereum-based altcoins including Lido DAO (LDO), Aave (AAVE), Uniswap (UNI), and many others experienced a sharp decline.&nbsp; Whale dump millions of LDO, AAVE 
However, this sharp decline was caused by the whale/institution as they deposited millions worth of LDO and AAVE and booked a loss of $3.34 million, according to the data from an on-chain analytic firm Spotonchain. In the last few hours, this whale has dumped a massive 4.44 million LDO tokens worth $7.91 million, and 49,771 AAVE tokens worth $3.34 million onto the world’s biggest cryptocurrency exchange Binance.&nbsp;
In the past 4 hours, 7 wallets deposited $12.38M worth of
According to the data, this whale accumulated these massive Ether-based altcoins in late May 2024, when the United States Securities and Exchange Commission (SEC) approved the <a href="https://news.todayq.com/expert-predicts-ethereum-etf-launch-date-report/" rel="noopener noreferrer nofollow">spot Ether ETF</a> (exchange-traded fund) form 19b-4.
Following this massive dump, LDO experienced a 13% price drop, while AAVE experienced a 7% price drop. Whereas, Ethereum (ETH) and other Ether-based tokens including UNI and ONDO experienced a price drop of 3.3%, 4%, and 4.5% respectively in the last 24 hours.
This sharp decline occurred as the US SEC postponed the launch of the spot Ether ETF from July 2, 2024, to mid-July. We may also experience a similar sell-off in the coming days if the US SEC further postpones the spot Ether ETF. Ethereum price-performance analysis&nbsp; 
Despite all these updates and price drops, ETH is currently trading near $3,300, and in the last 24 hours, it experienced a 3.5% price drop. Whereas, 24-hour trading volume surged by 26% signaling strong investors and traders participation amid price drop.&nbsp;
If we look at the performance of ETH over a longer period, in the last 7 days it lost 2% of its gain. Whereas, in the last 30 days, ETH has experienced a 13% price drop.
Apart from Ethereum and Ether-based altcoins, the overall cryptocurrency market is down by 3%. Meanwhile, top assets include Bitcoin (BTC), Solana (SOL), BNB (BNB), Dogecoin (DOGE), and Cardano (ADA) experienced a price drop of 3%, 4.5%, 3.2%, 4%, and 2% respectively in the last 24 hours.

In Panic Whale sell-off, AAVE, LDO book $3.34 million loss

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