Cryptocurrency Price Fall Linked to Jump Trading Probe, Trump's Odds
CryptoNewsTerminal Staff11 Aug, 2024
Cryptocurrency Price Fall Linked to Jump Trading Probe, Trump's Odds
According to ZDNet Korea, Web3 consulting firm Dispread Research has attributed the recent decline in cryptocurrency prices to several factors: Jump Trading Sale: The US Commodity Futures Trading Commission (CFTC) is investigating the possibility of virtual asset market maker Jump Trading selling its Ethereum holdings. Trump's Re-election: The decreasing likelihood of former US President Donald Trump's re-election, who is seen as pro-cryptocurrency, is also cited as a contributing factor. * Grayscale ETF Outflows: Outflows from Grayscale's Ethereum spot ETF have further contributed to the price decline. Dispread researcher Kim Byung-jun said, "Until the global economic uncertainty is resolved, the virtual asset market is expected to be heavily influenced by external factors. In particular, the Federal Open Market Committee's (FOMC) interest rate decision in September and the US presidential election will be key variables."
