Ethereum (ETH) Crashes Dramatically

Krutika Adani

Dramatic Crash

On 25 July 2024, Ethereum fell from $3467 to $3113, with a loss of 9%.

Triggered by a Single Seller

The main trigger for the ETH crash came from Grayscale which seems to have singlehandedly caused the crash.

$800 Million ETH Sold

In the first two days of their launch, Grayscale sold more than $800 million in ETH.

Why Grayscale Was Forced To Sell ETH

A high fee of 1.5% in Grayscale as compared to 0.25% fee by its comepetitors forced the users to redeem their money.

Ethereum ETFs Suffered Losses

Due to the exodus from Grayscale, Ethereum ETFs suffered a new outflow on the second day after launch.

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