Hashkey-Affiliated Wallet Sells Over $90 Million ETH In 10 Days - Report
Lookonchain reports that a wallet linked to Hashkey has sold over $90 million Ethereum in the past 10 days. What could this mean for ETH?...
- A wallet linked to Hong Kong-based crypto exchange Hashkey has sold over $90 million worth of Ethereum in the past 10 days.
- The massive selling activity has caused a slight decline in the ETH market.
- The wallet conducted its sell-off on the Binance and OKX exchanges.
- ETH dipped by over 4% in the last week but has gained 0.92% in the last day.
- The selling spree could be a precaution against an incoming significant decline in ETH's value.
- The high level of investor interest in Ethereum due to the Ether spot ETF race in the United States is expected to boost positive sentiments towards the altcoin.
- Other asset managers, including Fidelity Investments, BlackRock, and Grayscale, are looking to launch Ether Spot ETFs.
- Approval by the SEC for Ether Spot ETFs is uncertain, but the influx of applications signals increasing interest in Ethereum from traditional finance investors.
- ETH currently trades at $1,950 with a 0.34% gain in the last hour.
The sentiment in the article is mixed. The selling activity has caused a decline in the ETH market, but there is optimism about the potential for positive sentiment towards Ethereum due to the Ether spot ETF race and increasing interest from traditional finance investors.