Crypto Market Update: OPNX Founder Zhu Su Indicates Potential Market Bottom
CryptoNewsTerminal Staff06 Sep, 2024
Crypto Market Update: OPNX Founder Zhu Su Indicates Potential Market Bottom
Co-founder of Three Arrows Capital (3AC), Zhu Su, recently tweeted that he had purchased ETH around $2240. This tweet has sparked speculation within the crypto community, as 3AC was one of the largest crypto hedge funds before its collapse.
Su's tweet also mentioned that Kyle Davies, the other co-founder of 3AC had his positions liquidated. This event could potentially signal a market bottom, as the liquidation of large positions can often lead to a decrease in selling pressure.
It is important to note that the crypto market is highly volatile and unpredictable. While Su's tweets may provide some insights, investors should always conduct their own research and due diligence before making any investment decisions.
