Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Jump Trading’s ‘aggressive’ selling causes cryptocurrency market crash: Report
ALTCOIN NEWS

Jump Trading’s ‘aggressive’ selling causes cryptocurrency market crash: Report

By Crypto FlexsAugust 5, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Jump Trading’s ‘aggressive’ selling causes cryptocurrency market crash: Report
Share
Facebook Twitter LinkedIn Pinterest Email

According to QCP Group, one of Singapore’s first digital asset trading groups, the current cryptocurrency market crash is directly related to the sell-off at Jump Trading.

According to Cointelegraph data, the price of Ether (ETH) fell more than 21% in the 24 hours to 11:20 a.m. UTC, trading at $2,252.

According to an August 5 report from QCP Group, the plunge to a five-month low was primarily due to Ether sell-offs by Jump Trading and Paradigm VC.

“The immediate trigger for crypto appears to have been the aggressive ETH sell-off by Jump Trading and Paradigm VC. This move was probably exacerbated by market makers trying to shorten their gamma as front-end ETH volumes surged from over 30% to over 120%!”

The price of Ethereum is struggling to stay above the psychological level of $2,200, and any dip below this could trigger further panic selling among cryptocurrency investors, sending the lowest price ever lower.

The first Ethereum exchange-traded fund (ETF) to be launched in the United States has seen a sharp decline despite its debut on July 23.

Related: Analysts warn Bitcoin is headed for further decline. Could Bitcoin return to $42,000?

Jump Trading continues to sell Ether.

According to a report by Cointelegraph, Jump Crypto, the cryptocurrency division of Jump Trading, moved hundreds of millions of dollars worth of digital assets to a cryptocurrency exchange last week in preparation for a massive selloff.

Jump Trading has sold $377 million worth of Wrapped Lido Staked ETH (wstETH) since July 24th, when the price of Ethereum began to decline.

According to a post by Lookonchain on August 5, the company plans to sell a total of $481 million worth of wstETH.

“Jump Trading has sold 120,695 wstETH ($481 million) and has sold $83,000 wstETH ($377 million) since July 24th, leaving $37,604 wstETH ($104 million) left. The market has also started to decline since July 24th, down over 33%!”

Ether Price, Jump Trading Selling Pattern. Source: Lookonchain

Jump Trading is reportedly under investigation by the U.S. Commodity Futures Trading Commission (CFTC). The company’s president, Kanav Kariya, resigned on June 24.

Jump Trading, Binance Deposits. Source: Lookonchain

Related: Hong Kong’s largest online broker launches Bitcoin and Ether trading for its 22 million users

Macroeconomics played a major role in the cryptocurrency market crash.

Macroeconomic factors also played a significant role in the cryptocurrency market downturn.

Friday’s U.S. unemployment data was a significant negative catalyst, according to a QCP report.

“Plus, volatility has spiked across all assets as massive unwinds occur. VIX hits 50 (only higher during the Corona panic and the 2008 financial crisis) and USDJPY 1M at-the-money Vols have spiked by 16%! This is very likely to result in further unwinds.”

Moreover, according to QCP, the current military tensions between Israel and Iran could put further downward pressure on global markets.

“The Israeli killing of the Hamas leader over the weekend also created a climate of global risk aversion. Iran vowed to take action, and the United States has actually begun deploying troops to the Middle East.”

magazine: Bitcoin 2024 Criminals, BTC Strategic Reserve Bill, and More: Hodler’s Digest, July 28 – August 3

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025
Add A Comment

Comments are closed.

Recent Posts

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

If this trend is owned, the XRP price is $ 3.4 and you can see 20% bounce.

September 6, 2025

GBC Mining Launches Scalable Cloud Mining Plans, Enabling Passive Income For Global Crypto Enthusiasts

September 6, 2025

The 320K holder of the WAVERS & Cardano Price Surges Surges BlockDag signals the next large encryption.

September 6, 2025
Most Popular

Dogwifhat is leading the market with a 13% increase. What is driving the WIF price?

August 8, 2024

ETF approval will boost long-term growth for Ethereum despite short-term headwinds – Kaiko Research

May 28, 2024

CryptoQuant predicts that continued ETF inflows could send the Bitcoin price soaring to $112,000.

February 12, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.