Ethereum sale fears mount as crypto hedge fund transfers $60 million ETH to exchange
The original Ethereum token (Ether)ETH) surged more than 5% to reach an intraday high of over $1,930 on May 30. However, the pair risks another round of selling due to concerns about the massive influx of ETH into the exchange.
On May 30, an Ethereum address allegedly linked to Three Arrow Capital — a Singapore-based crypto hedge fund — sent 32,000 ETH worth $60 million to crypto exchange FTX within an hour, according to On-Show Chain data.
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