The recent sell-off also adds more fuel to the growing uncertainty surrounding Ethereum’s future outlook, as the cryptocurrency’s recent price crash has sparked even more bearish predictions of continued decline. Although the reason behind World Liberty Finance’s unexpected ETH sell-off remains unclear, some believe that the dump was likely triggered by Ethereum’s ongoing price decline, while others suggest it could signal a market bottom. Ethereum Price Crash To $1,400 Ethereum’s price decline to $1,400 came as a shock to the market, making it the first time the cryptocurrency had fallen so low in seven years.
According to data from Lookonchain, Trump’s World Liberty Finance, which was previously accumulating Ethereum at a low price, is now selling off a large chunk of its holding at a steep loss. Related Reading: Major Ethereum Whale Dumps 10,000 ETH After 2 Years, Is It Time To Get Out?
This dramatic price drop comes after a major ETH sell-off by US President Donald Trump’s World Liberty Finance, suggesting that the recent dump may have been a primary catalyst behind ETH’s price collapse.
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