Ethereum Plummets 11%, Traders Seek Upside in New Cryptocurrency Token

Ethereum prices have experienced a significant downturn, plummeting by 11% to trade at around $2,370 as of 7 a.m. EST on February 24, 2025. This decline follows broader market volatility and coincided with Binance reportedly selling around 25,000 ETH between 8:00 AM and 10:00 AM UTC at an approximate price of $3,200 per ETH, amounting to about $80 million in Ethereum transactions. The token swaps were primarily carried out with Symbolic Capital Partners and Wintermute. The sell-off has been attributed to market makers liquidating long positions, leading to forced selling or a bigger strategic play by some firms. 🚨 #Crypto #ETH #SOL