Key Points:
The price of Ethereum (ETH) may have been suppressed due to the sale of 6,968 ETH by MEV trading firm Symbolic Capital Partners. According to monitoring by Twitter user @ai_9684xtpa, ETH briefly fell below 3800 USDT half an hour ago.
As reported, Symbolic Capital Partners sold 6,968 ETH, equivalent to about 27.38 million U.S. dollars, within a minute. The average selling price stood at 3,930 U.S. dollars, with a single transaction selling 3,497 ETH at once on the chain and a bribe fee of 90 ETH.
Ethereum has recently been a focus in the market due to its spot Ethereum exchange-traded funds (ETFs). According to a report from CoinCu, BlackRock has refiled for its spot Ethereum ETF based on an amended 19b-4 form to the United States Securities and Exchange Commission (SEC).
Readmore: Spot Ethereum ETF: BlackRock Re-files Critical Form With SEC
It is also reported that Fidelity continues to plan for a spot Ethereum ETF with a revised S-1 application sent to the SEC. Projections suggest a decision regarding Ether ETFs may be out by May 23.
The US SEC is seemingly ready to greenlight spot Ethereum ETFs, a report from Barron says. ETH is trading at $3,796 at the time of writing, after retreating from the recent high of $3,935 set during a two-month high earlier.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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