BlackRock’s $375M Ethereum Exit – Is ETH Headed for a Crash?
BlackRock just pulled the plug on Ethereum—hard. A jaw-dropping $375 million vanished from its holdings in 24 hours. Was it profit-taking, panic, or just another Wall Street 'strategic reallocation' (read: dumping bags on retail)?
Market tremors ahead?
The crypto market's reacting like a startled cat—ETH's price teeters as whales follow BlackRock's lead. Liquidity's evaporating faster than a DeFi rug pull. But here's the kicker: Ethereum's fundamentals haven't changed. The network's still processing transactions, NFTs are still overpriced, and Vitalik's still tweeting.
Greed or genius?
Wall Street's playing 4D chess while crypto traders play checkers. BlackRock's move could signal a broader institutional retreat—or just another 'buy high, sell higher' gambit. Either way, strap in. When the world's largest asset manager sneezes, the crypto market catches pneumonia.
Bonus jab: Nothing brings out 'diamond hands' like watching billionaires paper-hand their stacks.
Ethereum Price: BlackRock’s Dump and Market Reaction
Source: TradingView
On August 5, blockchain data showed that BlackRock moved 101,975 Ethereum into Coinbase Prime, worth about $372 million. This caused some uncertainty in the market, with Ethereum price falling to around $3,611, a 1.4% drop on the day and almost 5% down for the week.
In addition to this, ethereum ETFs faced big outflows of around $600 million, though some of that was later recovered. Currently, Ethereum price is facing strong resistance near $3.10. If it can’t break through, it could face more declines. The price is also stuck in a symmetrical triangle pattern on the chart, which often signals a major price move is coming. If Ethereum fails to hold above $3,583, it may drop further.
Remittix: A Rising Star in Crypto
While Ethereum price is struggling, Remittix (RTX) is quietly building momentum. Remittix has raised over $18.2 million through the sale of 583 million tokens, each priced at $0.0895. This new crypto payment platform is quickly becoming popular because of its focus on low-fee, fast, and secure crypto payments across 30+ countries. Here are some reasons why Remittix could outperform other cryptos like Ethereum in the future:
- Send cryptocurrency to more than 30 countries
- Low charges: The charges on transactions are comparatively low as compared to most of the competitors
- Security: CertiK audit provides high-level protection to the users
- Real-time FX conversion: Transparent and competitive exchange rates
- Easy for businesses: Integrate crypto payments easily with Remittix’s API
With its potential uses in business and individuals, Remittix will remain in the spotlight as its user base increases. Compared to Ethereum, which is yet to gain acceptance in the marketplace, Remittix is gaining traction and has a chance to turn the crypto payments industry upside down.
Why Remittix Is a Better Investment Than Ethereum
As Ethereum price struggles with resistance and declines in the market, Remittix is an excellent long-term investment. With real-world applications in the payment sector, Remittix offers consistent growth and has a much clearer path forward compared to the volatility of speculative assets like Ethereum. As Remittix continues to develop, it could become one of the best crypto investments for the future.
: https://remittix.io/
: https://linktr.ee/remittix
: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
