Ether's Price Plummets Amid Market Maker Sell-Off and Low ETF Inflows đš
Ether's price fell from above $3,000 to $2,100 due to selling pressure from a few key market makers, who #sold 130,000 Ether worth $290 million. Major sellers included Wintermute, Jump Trading, Flow Traders, GSR Markets, and Amber Group.
Ether struggled to stay above $2,200, experiencing a 22.3% drop in 24 hours. Despite the launch of the first US spot Ether #ETFs on July 23, which saw low inflows and significant outflows from Grayscaleâs Ether ETF, there is optimism that Ether's price could double if it follows historical patterns.
However, Ether ETFs are seen as secondary to Bitcoin ETFs in terms of #inflows .
