What this whale’s latest dump means for ETH, AAVE, and UNI’s prices

, the President of ETF Store, has gained massive attention from investors and institutions. According to his post on X, the United States Securities and Exchange Commission , which was likely to greenlight the launch of these products by 2 July, has postponed the decision to mid-July.Ethereum

-based tokens including Lido DAO , Aave , UniSwap , and Frax Share . According to the data, they sold 3.13 million LDO worth $5.77 million, 49,771Following this market dump, the tokens’ price plunged significantly. According to CoinMarketCap, for instance, LDO registered a 14% price drop, AAVE depreciated by 9%,Here, it’s worth pointing out that the whale initially spent over $73 million to buy Ethereum and related tokens, following the approval of the spot Ether ETF form 19b-4 in May 2024.

On the price charts, ETH seemed to be close to its crucial support level of $3,250 and below the 50 EMA . If ETH fails to sustain this level, we could see a massive downside move to the $2,870 level in the coming days.Despite the optimism around Spot Ether ETFs, along with other Ether-based tokens, ETH also recorded a price drop of 5% in the last 24 hours.Saman Waris works as a News Editor at AMBCrypto.

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