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Ethereum Price Crash: World Liberty Finance Dumps ETH, Raising Concerns
The Ethereum price crash to $1,400 has shaken the crypto market, amplifying already volatile conditions. This dramatic price drop comes after a major ETH sell-off by US President Donald Trump’s World Liberty Finance, suggesting that the recent dump may have been a primary catalyst behind ETH’s price collapse.
Donald Trump’s World Liberty Finance Dumps ETH
Launched in 2024, World Liberty Finance is Trump’s controversial digital asset firm designed to rival centralized banking and facilitate the adoption of stablecoins. According to data from Lookonchain, Trump’s World Liberty Finance, which was previously accumulating Ethereum at a low price, is now selling off a large chunk of its holding at a steep loss.
Lookonchain flagged the transaction, noting that the wallet linked to World Liberty Finance had offloaded 5,471 ETH tokens worth roughly $8.01 million. The sell-off was executed at a price of $1,465 per ETH, a significant drop from its previous value of over $1,600.
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Ethereum’s price decline to $1,400 came as a shock to the market, making it the first time the cryptocurrency had fallen so low in seven years. Notably, Ethereum was not the only leading cryptocurrency that was affected by the market turmoil, as big players like Bitcoin also suffered losses.
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Although the reason behind World Liberty Finance’s unexpected ETH sell-off remains unclear, some believe that the dump was likely triggered by Ethereum’s ongoing price decline, while others suggest it could signal a market bottom.
Ethereum Price Crash To $1,400
Ethereum’s price decline to $1,400 has raised concerns about the cryptocurrency’s future outlook. Currently, Ethereum seems to be recovering slightly from its previous low and is now trading at $1,591 after jumping 7.44%. Although this recovery brings hope of a rebound, the cryptocurrency’s value has still dropped by 16.63% over the past month.
Moreover, technical indicators from CoinCodex highlight that sentiment surrounding the cryptocurrency is still deeply bearish, suggesting that further declines could be on the horizon.
Conclusion
The Ethereum price crash to $1,400 has sent shockwaves through the crypto market. The unexpected dump of ETH by World Liberty Finance has raised concerns about the cryptocurrency’s future outlook. As the market continues to fluctuate, it remains to be seen whether Ethereum will recover or continue to decline.
FAQs
Q: What is the current price of Ethereum?
A: The current price of Ethereum is $1,591.
Q: Why did World Liberty Finance dump ETH?
A: The reason behind World Liberty Finance’s unexpected ETH sell-off remains unclear, but some believe that the dump was likely triggered by Ethereum’s ongoing price decline, while others suggest it could signal a market bottom.
Q: Is Ethereum’s price crash a one-off event?
A: No, Ethereum’s price decline is not a one-off event. The cryptocurrency has been experiencing a decline in value over the past month, dropping 16.63% in value.
Q: What is the impact of World Liberty Finance’s ETH sell-off on the market?
A: The unexpected dump of ETH by World Liberty Finance has raised concerns about the cryptocurrency’s future outlook and has sent shockwaves through the crypto market.
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