A Chinese investment firm, Longling Capital, is reportedly behind a significant ETH sell-off. According to on-chain data from Lookonchain, an address linked to Longling Capital (starting with 0x3478) allegedly sold 7,000 ETH, valued at approximately $31.82 million, just 40 minutes ago. While this sale represents a substantial transaction, the firm still holds a significant ETH portfolio. The address currently maintains a balance of 79,077 ETH, worth around $352 million, indicating a continued, albeit reduced, investment in Ethereum. The impact of this sale on the broader crypto market remains to be seen. Large transactions can often influence price fluctuations, and market participants are closely monitoring Ethereum's price following this news. This activity highlights the importance of tracking large institutional movements in the cryptocurrency space. ```

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