Ethereum’s Massive Price Crash Triggers Investor Panic

Ethereum (ETH) experienced a sharp decline of over 20% in the past day, triggering widespread panic among investors.

Bitcoin (BTC) and XRP also saw significant drops of 12% and 14%, respectively, reflecting a broader market downturn.

The sell-off was partly driven by Jump Trading moving a large amount of staked ETH to centralized exchanges, alongside global market volatility.

According to Spot on Chain, Jump Trading transferred 17,576 ETH, worth around $46.78 million, in the past 24 hours. Since late July, they have moved roughly 90,000 ETH to exchanges and still hold significant amounts in staked and wrapped forms.

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Crypto Market Slump Has Left Traders With Millions of Dollars in Losses

ETH’s price has fallen by 31% over the last week and 39% over the past two months, now trading at about $2,322. Trading volume surged by 234% to $53.6 billion as the price approached $2,100, with gas fees spiking.

Around $350 million in long positions were liquidated in the past day, showing a sudden shift in trader sentiment. Ethereum’s total value locked (TVL) dropped by 17.7% in one day to $43.66 billion, with Lido’s TVL alone decreasing by 20% overnight to $22.85 billion.

Alexander Stefanov