BlackRock Dumps Ethereum, Over $375M in a Single Day – Is the ETH Price Set to Fall?
Main Idea
BlackRock's sale of over $375 million in Ethereum caused market uncertainty and a price drop, while Remittix (RTX) is gaining attention with significant growth and a focus on low-fee, fast crypto payments.
Key Points
1. BlackRock sold 101,975 Ethereum (worth ~$372 million) on August 5, leading to a 1.4% daily drop and nearly 5% weekly decline in Ethereum's price.
2. Ethereum ETFs faced outflows of around $600 million, though some funds were later recovered.
3. Ethereum's price is struggling to break through resistance at $3,610, with potential further drops if it falls below $3,583.
4. Remittix (RTX) has raised $18.2 million by selling 583 million tokens at $0.0895 each, with a 500% growth surge.
5. Remittix focuses on low-fee, fast, and secure crypto payments across 30+ countries, with features like real-time FX conversion and easy API integration for businesses.
Description
Ethereum price is facing some challenges after BlackRock, one of the biggest asset management firms, sold over $375 million worth of Ethereum in just one day. This move has made some investors nervous, wondering if the Ethereum price will drop even more. Meanwhile, Remittix (RTX), a fast-growing cryptocurrency, has been seeing impressive gains, already up more than 500% in 2025. Ethereum Price: BlackRock’s Dump and Market Reaction Source: TradingView On August 5, blockchain data showed that Blac...
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