Coin Edition -
- According to VC founder Jed Breed, the recent decline in ETH’s price might soon end.
- He believes that Celsius’ recent activity of selling some of its ETH holdings put downward pressure on its price.
- With the ETH sale now complete, ETH might be due for an uptick.
The recent slump in Ethereum’s (ETH) price could be nearing its end, thanks to a major development in the ongoing Celsius bankruptcy case, Jed Breed, founder of venture capital firm Breed, noted in a series of posts on X (formerly Twitter).
Onchain data shows @CelsiusNetwork has sold $243M of ETH in the past 30 days:https://t.co/GHUR9iWIGcIt seems this is why ETH has struggled to catch a bid in the recent run up. But why is Celsius doing this? I looked into the recent bankruptcy saga to find out why…A