Blockchain tracking agency Arkham Intelligence revealed a shocking discovery: the suspected address of the Ethereum Foundation, which had been dormant for 7 years, suddenly transferred 925,000 ether coins, worth as much as $290 million. Ethereum prices plummeted to $3,175 on Friday, hitting an intraday low of $3,087. This huge transfer came at a time of market turmoil, and the ETHE fund suffered a sell-off, resulting in significant net outflows from the Ethereum spot ETF. Strategic understanding--Institute--972331171

Analysts pointed out that the weak performance of ETFs may be affected by market sentiment and the decline of the stock market. Although the U.S. Securities and Exchange Commission has not relaxed its pledge of Ethereum, industry insiders still regard it as a future trend. There are market rumors that the Ethereum Foundation is selling tokens, exacerbating market panic.

Technically, Ethereum suffered huge liquidations within 24 hours, fell below key support levels, and is currently hovering between $2,852 and $3,357. Analysts warned that if it continues to fall by 15%, it may hit the psychological mark of $3,000. However, considering that Grayscale ETHE holds a large amount of Ethereum and the current price is close to the net asset value, capital outflows may become short-term pressure, but in the long term, it is optimistic about the rebound potential of Ethereum, and may even reach a new high. #美国以太坊现货ETF开始交易 #美国大选如何影响加密产业？ $1000SATS #比特币大会 #拜登退选 #山寨季何时到来？ $CVP $SOL