BITMD
BITMD
BITMD
  • Home
  • Privacy Policy
  • Contact Us
  • Sitemap
  • Cryptocurrency

The crypto hedge fund moves $60 million in Ethereum to an exchange, which raises fears of a sell-off – Blog Digital Coin Price

  • June 3, 2022
  • Gordon James
Total
0
Shares
0
0
0

The crypto hedge fund moves $60 million in Ethereum to an exchange, which raises fears of a sell-off.

Ethereum is the second largest cryptocurrency by market capitalization and has been on a tear since its launch in 2015. However, it looks like the crypto hedge fund that moved $60 million worth of Ethereum to an exchange has raised fears of a sell-off. Read more in detail here: ethereum price.

On shorter timeframes, once Ethereum’s price retests a major resistance level, it is likely to become overbought, resulting in sell-offs.

On May 30, the native currency of Ethereum, Ether (ETH), jumped more than 5% to over $1,930. However, a large influx of ETH into one exchange is raising fears of another sell-off in the ETH/USD pair.

 

Also see: The Indian government is considering imposing a “reverse charge” tax on overseas cryptocurrency exchanges.

 

FTX got 58.7K Ether in May.

On-chain data suggests that on May 30, an Ether address purportedly linked to Singapore-based crypto hedge firm Three Arrow Capital deposited 32,000 ETH worth $60 million to the FTX crypto exchange in one hour.

After transferring 26,700 ETH to the same exchange in May, it aroused fears that the fund might sell Ether. The main reason for this is because investors only send cryptocurrency to exchange wallets when they want to trade it for other assets. 

 

Is it possible to get rid of eeth? https://t.co/7xdI80P8rZ

30 May 2022 — Tim Copeland (@Timccopeland)

 

The quantity of Ethers owned by exchanges continued to fall in May, according to Glassnode’s on-chain statistics.

Investors are hanging on to their ETH investments for the long term, according to MTD statistics, as seen by the month-to-date reduction in ETH balance across the world’s crypto exchanges (MTD).

The crypto hedge fund moves $60 million in Ethereum to an exchange, which raises fears of a sell-off – Blog Digital Coin PriceOn exchanges, there is a balance of Ethereum. Glassnode is the source of this information.

 

The ETH comeback is becoming stronger.

As Three Arrow moves a large amount of Ether to FTX, ETH is testing a major support-turned-resistance level at $1,920 for a breakout.

The crypto hedge fund moves $60 million in Ethereum to an exchange, which raises fears of a sell-off – Blog Digital Coin PriceFour-hour price chart for ETH/USD. TradingView is the source of this information.

Furthermore, Ether’s relative strength index is nearing 70, which in technical analysis signals overbrightness. In the next days, it’s also feasible that ETH may stabilize around $1,920 before dropping back to its rising trendline support at $1,850.

 

Also see: Is it still safe to buy in cryptos after the Luna crash?

 

As depicted below by “Wolf,” a pseudonymous market expert, a firm rise over $1,920, backed by an increase in trading volumes, might set up a long-term rising trend.

 

The “ethereum price usd” is a blog that focuses on the cryptocurrency market. The blog published an article about a crypto hedge fund moving $60 million in Ethereum to an exchange, which raised fears of a sell-off.

Related Tags

  • ethereum hedge fund
  • ethereum price prediction
  • ethereum price prediction 2025
  • ethereum price prediction 2050
  • ethereum price prediction 2030
Total
0
Shares
Share 0
Tweet 0
Pin it 0
Gordon James

Previous Article
  • Cryptocurrency

Money Laundering, Insider Trading, Falsified Documents – This Trio Have Each Been Accused of Wrongdoing

  • June 2, 2022
  • Gordon James
Read More
Next Article
  • Cryptocurrency

Stocks surge, altcoins give back their gains and dollar strength may push Bitcoin lower

  • June 4, 2022
  • Gordon James
Read More
You May Also Like
Read More
  • Cryptocurrency

A year of mass adoption for cryptocurrencies in Brazil

  • Gordon James
  • June 30, 2022
Read More
  • Cryptocurrency

5 Best Crypto Games to Watch in January 2022

  • Gordon James
  • June 29, 2022
Read More
  • Cryptocurrency

Indian INX exchange reportedly plans to list Bitcoin futures ETF

  • Gordon James
  • June 29, 2022
Read More
  • Cryptocurrency

What to expect from the blockchain world in 2022? | Footprint Analytics Annual Report 2021

  • Gordon James
  • June 29, 2022
Read More
  • Cryptocurrency

Footprint Analytics: Will 2022 See the Emergence of GameFi 2.0? | Annual Report 2021

  • Gordon James
  • June 17, 2022
Read More
  • Cryptocurrency

DEESSE Token Sale is Launching on KuCoin

  • Gordon James
  • June 17, 2022
Read More
  • Cryptocurrency

Bitcoin shoots to $44,000 as US inflation hits 7% in December

  • Gordon James
  • June 17, 2022
Read More
  • Cryptocurrency

Arkania Protocol Launch Multi-Chain Launchpad Making IDOs Accessible to All

  • Gordon James
  • June 14, 2022
Do Read
  • 1
    SmartKey Shows There Is Real Value and Utility in NFT Tokens – Sponsored Bitcoin News
  • How to Buy Nexo in 2021 – [Step-by-Step Buyer’s Guide]
    2
    How to Buy Nexo in 2021 – [Step-by-Step Buyer’s Guide]
  • 3
    Crypto Adoption within Sports Grows – Headlined by Formula 1, NASCAR, Tom Brady, and More
  • 4
    Bitcoin struggling below 50-day SMA |
Read More
  • Bitcoin and Lightning in Mozambique
    • May 10, 2022
  • Hedge or cyclical? Eternal debate on Bitcoin’s status sees a new twist
    • March 28, 2021
  • NatWest cuts payment channels to Binance, citing regulatory uncertainty
    • July 22, 2021
  • 13 Best Staking Coins [Highly Profitable And Safe Proof Of Stake (PoS) Coins]
    13 Best Staking Coins [Highly Profitable And Safe Proof Of Stake (PoS) Coins]
    • October 22, 2021
  • Tesla sold part of its Bitcoins in the first quarter of this year
    • April 28, 2021
Recent Posts
  • A year of mass adoption for cryptocurrencies in Brazil
    • June 30, 2022
  • 5 Best Crypto Games to Watch in January 2022
    • June 29, 2022
  • Indian INX exchange reportedly plans to list Bitcoin futures ETF
    • June 29, 2022
BITMD
  • Home
  • Privacy Policy
  • Contact Us
  • Sitemap
The Crypto Doctor

Input your search keywords and press Enter.