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Ethereum (ETH) Whales Close to Liquidation, $238 Million to Be Erased
Macro investor Quinn Thompson, CIO of Lekker Capital macro hedge fund, has made a shocking statement about the current state of Ethereum (ETH). According to him, ETH as an investment is “completely dead.” This drastic assessment comes as the cryptocurrency is on track to complete its worst Q1 in years.
Thompson believes that the market’s decline in transaction activity, user growth, and fees/revenues has eliminated any investment case for ETH. He emphasizes that while the ecosystem is still growing, this growth does not translate to value accrual in the core asset.
It appears that Ethereum whales are on the verge of liquidation, with a staggering $238 million at risk of being erased. This massive amount is a stark reminder of the severity of the situation and the potential consequences for ETH investors.
Thompson’s assertion serves as a wake-up call to investors who have been holding onto their ETH positions in hopes of a rebound. It may be wise to reevaluate investment strategies or take necessary precautions against further losses.
The statement has sent shockwaves through the crypto community, leaving many wondering what the future holds for Ethereum and its investors.
Sources:
Source: https://u.today/ethereum-eth-whales-close-to-liquidation-238-million-to-be-erased
