Circle has acquired Hashnote, enhancing its USDC and USYC ecosystems and bridging decentralized finance with traditional markets. This strategic move, alongside a partnership with DRW, aims to boost institutional adoption and liquidity, while potentially increasing demand for Ethereum as transaction volumes rise.
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0 in Finance and 0 in Crypto last weekFidelity’s 213 Million ETH Transfer Increases Selling Pressure on Ethereum
Ethereum is under significant selling pressure as Fidelity transferred $213 million worth of ETH to Coinbase, raising concerns about a potential price decline. The influx of over 550,000 ETH into exchanges signals increased selling activity, with the asset’s Relative Strength Index indicating weakening momentum. If demand does not increase, ETH could drop below $3,249, while a stall in inflow could push prices up to $3,758.
about Fidelity's 213 Million ETH Transfer Increases Selling Pressure on EthereumFidelity Transfers 65 Million Ethereum to Coinbase Amid Market Sell-Off
Fidelity has transferred approximately 65 million Ethereum, valued at $213 million, to Coinbase within 34 hours, raising concerns of a potential sell-off amid recent price declines. This move, facilitated by Cumberland, coincides with other large holders, including the Ethereum Foundation, offloading significant amounts of ETH, which has heightened fears of further market downturns. Despite these sales, Fidelity maintains a bullish long-term outlook on Ethereum, emphasizing its growth potential and advantages over competitors like Solana.
about Fidelity Transfers 65 Million Ethereum to Coinbase Amid Market Sell-Off