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Lookonchain: Erm, actually the $2B of ETH was sold back in 2021

Lookonchain shared that Plus Token had begun moving nearly $2 billion in ETH but it turns out most of it had already been sold in 2021.

Independent analysts have debunked a recent social media post claiming that “hundreds of dormant wallets” linked to the multibillion-dollar crypto scam Token Plus had begun shifting nearly $2 billion in Ether. 

In a now-deleted Aug. 6 post to X, blockchain analytics service Lookonchain initially claimed that wallets linked to TokenPlus had begun shifting some 789,533 ETH — worth $1.8 billion at current prices.

As it turns out, the amount may have been much lower than initially stated.

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Solana hits new all-time high against Ethereum, but is $200 SOL price within reach?

Solana’s price could rally to $200 if SOL manages to flip $148 into a support level, technical analysis suggests.

Solana’s (SOL) price hit a new all-time high against Ether (ETH) on Aug. 7, and traders are eyeing a potential breakout to $200, a level not seen since March. 

SOL’s price has entered price discovery, hitting an all-time high of 0.06211 against ETH, according to data from Binance and TradingView.

The SOL/ETH trading pair has been forming higher highs on the daily chart since June 23, suggesting that more upside is possible.

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Nasdaq asks to list options on spot Ethereum ETFs — Filing

Exchanges are still waiting on permission to list options on spot Bitcoin ETFs, too.

Nasdaq’s options exchange asked United States regulators to permit options trading on spot Ethereum exchange-traded funds (ETFs), according to an Aug. 6 regulatory filing.

Nasdaq’s proposed rule change would apply exclusively to Blackrock’s iShares Ethereum Trust (ETHA), which is the only Ether (ETH) ETF listed on Nasdaq’s electronic exchange. The others are listed on the New York Stock Exchange’s (NYSE) Arca or Cboe.

The filing marks an important step towards widespread adoption of ETH ETFs, which listed in July and and proceeded to attract approximately $1.5 billion in net inflows, according to Morningstar.

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Jump Trading’s Ether dump: Smart move or sign of trouble?

Jump Trading’s aggressive Ether sell-off, coinciding with Japan’s market crash, raises questions about its strategy and market exit.

Jump Trading’s recent transfer of hundreds of millions in Ether (ETH) has stirred debates and market speculations. 

This aggressive unloading of assets preceded a historical stock market crash in Japan on Aug. 5, where the Nikkei 225 index plummeted 12.4%, losing 4,451 points, its largest points drop ever.

Jump Trading moved around $315 million in staked Ether to cryptocurrency exchanges recently, with major transfers occurring over the weekend.

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Crypto market crash triggered by ‘aggressive’ selling by Jump Trading: Report

Jump Trading significantly contributed to the crypto market sell-off, and it could be looking to sell another $104 million worth of crypto.

The current crypto market crash is being directly linked to selling by Jump Trading, according to QCP Group, one of Singapore’s first digital asset trading groups.

The price of Ether (ETH) fell over 21% in the 24 hours leading up to 11:20 am UTC to trade at $2,252, according to Cointelegraph data.

The crash to an over five-month low was mainly caused by Ether selling from Jump Trading and Paradigm VC, according to an Aug. 5 report by QCP Group, which wrote:

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Crypto products shed $528M amid recession fears — CoinShares

As Bitcoin dropped below $50,000, analysts expect more outflows that would potentially drive prices down to $42,000.

Cryptocurrency assets started seeing significant outflows last week amid growing fears of a recession in the United States and geopolitical concerns, according to a new report by the crypto investment firm CoinShares.

The week of July 28 to Aug. 3 saw digital asset investment products posting outflows for the first time in four weeks totalling $528 million, CoinShares reported in its latest digital asset fund flows report published on Aug. 5.

CoinShares noted that the latest crypto sell-off is believed to be a reaction to fears of a recession in the US, geopolitical uncertainty and consequent broader market liquidations across the majority of assets.

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4 crypto price analysis platforms that can improve your trades

Crypto analytics platforms can vary widely depending on various factors, including price, investment focus and tracking abilities.

Traders and crypto enthusiasts need access to up-to-date information and topical analysis to make informed investment decisions.

However, with the glut of analysis services available, deciding which platform is right can be difficult.

Some platforms offer in-depth data on futures, while others focus on wallet analysis and decentralized finance (DeFi).

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3 Ethereum price metrics point to further downside in ETH

ETH’s price continues to underperform Bitcoin’s price, and the downside is set to continue.

After rallying to 26% to $3,563 leading into the launch of spot Ether exchange-traded funds (ETFs), Ether’s (ETH) price has underperformed over the last month compared to Bitcoin and the broader crypto market. This underperformance has led traders to question whether the altcoin will have a sustained recovery. ETH’s price is down 4.3% over the last seven days and 2.11% over the last month.

To put this into context, Bitcoin’s (BTC) price climbed by 7.7% over the last 30 days, while the total cryptocurrency market capitalization rose by 6.2% over the same period.

Other top-cap layer-1 tokens, Solana’s SOL (SOL) and Cardano’s ADA (ADA), have rallied 27 27% and 6%, respectively, over the same timeframe.

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10 years on: How Ethereum’s ICO changed the crypto landscape

Nick Johnson, lead developer of the Ethereum Name Service, shared his thoughts and memories of Ethereum on its 10th anniversary.

The Ethereum initial coin offering (ICO) — one of the most important events in the history of cryptocurrency — began on July 22, 2014, just a little over 10 years ago. 

The ICO ran for 42 days until Sept. 2 and allowed participants to buy 2,000 Ether (ETH) for the price of 1 Bitcoin (BTC).

Cointelegraph spoke with Nick Johnson, the lead developer of the Ethereum Name Service (ENS) and former member of the Ethereum Foundation, about Ethereum and how it changed his life and the crypto landscape forever.

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Ethereum price will be ‘sensitive’ to ETF inflows in the coming days: Kaiko

Another firm estimates that Ether’s price will rise no more than 24% by the end of the year due to underwhelming demand for the spot ETH products.

The price of Ether will likely be “sensitive” to spot Ether ETF inflows in the coming days, as investors will remember lackluster demand for ETH futures products late last year, says crypto analytics firm Kaiko.

“The launch of the futures-based ETH ETFs in the US late last year was met with underwhelming demand, all eyes are on the spot ETFs’ launch with high hopes on quick asset accumulation,” said Kaiko’s head of indices Will Cai in a July 22 market report.

Several spot Ether (ETH) ETFs received their final approval on July 22 and are now set to go live trading on July 23.

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