Ethereum sell-off fears rise as crypto hedge fund moves $60M ETH to an exchange -Breaking
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Ethereum Sell-off Fears Rise as Crypto Hedge Fund Moves $60M Ethereum To An ExchangeEther is Ethereum’s native currency (ETHTo reach an intraday peak of $1,930 (on May 30), ) climbed more than 5%. Nevertheless, there is a risk that the pair will face another round of sell-off due to fears about a large ETH flow into an exchange.
On May 30, the Ether address allegedly associated with Three Arrow Capital — a Singapore-based crypto hedge fund, sent 32,000 ETH worth $60 million to the FTX crypto exchange within a span of an hour, on-chain data shows.
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