These Companies Frequently Drop the Ethereum (ETH) Price! Was it effective in the last decline?

Bitcoinexceeds $4,000 as it reaches the new ATH EthereumWith the last correction, it fell to 3560 dollars.

While the reasons for this decline are wondered, Spot on Chain said in its post that FTX and Alameda Research may be behind the decline in ETH price.

At this point, the platform, FTX and Alameda ETH often check into Coinbase before its price drops. Ethereum He pointed out that he transferred.

Pointing out that there is a potential correlation between the movements of FTX and Alameda Research and the price dynamics of Ethereum, the platform listed the latest ETH transfers of FTX and Alameda.

“FTX and Alameda wallets seem to frequently sell ETH before the price drops!

Over the past 15 days, FTX and Alameda Research deposited 6,500 ETH (valued at $24.57 million) to Coinbase at approximately $3,780 through 7 transactions.

And after 5 out of 7 transactions, ETH fell.

FTX and Alameda wallets additionally held 8 altcoins worth $6.26 million during this period.
carried: ALI, GAL, TONCOIN, WAVES, OHM, HGET, TLM and MTA.”

#FTX oath #Alameda wallets appear to move out frequently $ETH ahead of a dump!

In the past 15 days, FTX and Alameda Research have deposited 6,500 $ETH ($24.57M) to #Coinbase at ~$3,780 via 7 transactions.

And the market dipped following 5 out of 7 transactions (pic 👇)!… pic.twitter.com/STOtHBDChE

— Spot On Chain (@spotonchain) March 15, 2024

Analysts who analyzed ETH technically noted that the current price trend of Ethereum reflects a significant downtrend, with resistance observed around $3,850.

At this point, analysts stated that a successful break above $ 3,880 could signal the revival of the bullish momentum and push Ethereum towards $ 4,000 again, while failure to overcome the $ 3,850 resistance could bring further decline.

*This is not investment advice.