ETH Mimics BTC’s Post-ETF Crash, Hinting at Massive Rally Ahead

Quick Summary:

This week, the second-largest cryptocurrency Ethereum experienced a significant decline in value despite the highly anticipated launch of a spot ETH ETF.

The coin price dropped 13.3% from a high of $3560, settling at $3258, while its market cap fluctuated around $391.8 billion.

As per the data from Arkham Intelligence, Grayscale executed a substantial transfer of 110,867 ETH, valued at approximately $358 million, to Coinbase Prime.

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Article Details

Author / Journalist: Sahil Mahadik

Category: Crypto

Markets: India

Topics: ETH Price Analysis Etheruem Price Analysis

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 20:57:35 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 40 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21786952

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