Ethereum has been seeing some significant downside coming out of the weekend. This was triggered by the FTX hacker, who currently holds hundreds of thousands of ETH, dumping some of those coins for Bitcoin over the weekend. After dumping around 10,000 ETH, the digital asset had dumped more than 7%, as a large number of investors continue tracking the wallet.
More Pain To Come For ETH
Looking at the impact of the FTX hacker selling ETH for BTC had on the market, and seeing the balances of the address, it is no secret that Ethereum is not completely out of the woods yet. There are a lot of eyes on the hacker’s wallet, which contains more than 180,000 ETH, coming out to over $200 million.