$ETH Trend Research "Unleashes Flood" of 47,000 ETH, Sells Off Nearly $90 Million to Salvage Positions
Selling pressure on the Ethereum market shows no signs of abating as large institutions continue to be forced to "cut their losses" to protect their accounts from the risk of liquidation.
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🔸 Trend Research has continuously deposited funds onto exchanges and sold off a total of approximately 47,000 ETH within just the past 6 hours.
🔸 The total value of this massive sell-off is estimated to be $89.29 million USD. Dumping such a large supply onto the market in a short time has contributed to downward pressure on ETH's price.
🔸 The purpose of this sell-off is to avoid liquidation. After reducing the position size, Trend Research's latest liquidation price range has been pushed back to a safer zone, now between $1,509 and $1,800 USD.
Large funds are accepting to sell at low prices to bring their liquidation levels down to $1,500 USD. Do you think ETH will continue to be pressured down to this zone to test their final "breaking point"?
News is for reference, not investment advice. Please read carefully before making a decision.
Selling pressure on the Ethereum market shows no signs of abating as large institutions continue to be forced to "cut their losses" to protect their accounts from the risk of liquidation.
Get 30% Cashback on Transactions at Binance Wallet/Web3 Here
🔸 Trend Research has continuously deposited funds onto exchanges and sold off a total of approximately 47,000 ETH within just the past 6 hours.
🔸 The total value of this massive sell-off is estimated to be $89.29 million USD. Dumping such a large supply onto the market in a short time has contributed to downward pressure on ETH's price.
🔸 The purpose of this sell-off is to avoid liquidation. After reducing the position size, Trend Research's latest liquidation price range has been pushed back to a safer zone, now between $1,509 and $1,800 USD.
Large funds are accepting to sell at low prices to bring their liquidation levels down to $1,500 USD. Do you think ETH will continue to be pressured down to this zone to test their final "breaking point"?
News is for reference, not investment advice. Please read carefully before making a decision.
