Ethereum Price Drops to $1,400 Following World Liberty Finance Sell-Off
Ethereum's price fell to $1,400, contributing to heightened volatility in the crypto market. This decline followed a significant sell-off by World Liberty Finance, linked to Donald Trump, which may have been a key factor in the price drop.
Key Points
- World Liberty Finance dumped 5,471 ETH for approximately $8.01 million at $1,465 per token.
- The firm previously accumulated 67,498 ETH at an average price of $3,259, resulting in an unrealized loss of around $125 million.
- Ethereum's recent low represents its lowest value in seven years, with other major cryptocurrencies also affected.
- Currently, Ethereum is trading at $1,591 after a slight recovery of 7.44%, but has still dropped 16.63% over the past month.
- Market sentiment remains bearish, indicating potential further declines.
