Ethereum Drops 5% Over Misinterpreted $2B ETH Transfer

Ethereum's 5% Drop Explained

Ethereum (ETH) fell more than 5% on Wednesday due to fears that a $2 billion ETH supply would flood the market. However, EmberCN clarified that this misinterpretation was incorrect: “There's no $2 billion worth of ETH supply waiting to flood the market.” Most of these funds had already been sold in 2021, according to EmberCN.