$ETH
After the rise to 3850 and subsequent pullback, a "huge sell order" has appeared above.
In addition to the orders that have consistently existed at the 4000 integer level, there have been a cumulative 46,800 Bitcoin sell orders between 3850-3915, corresponding to a value of 170 million USD.
This is also the largest single hanging order volume for ETH in some time.
Some analysts point out that, combined with the upcoming vote on July 24 regarding SBET's potential additional issuance of 5 billion USD in stocks to buy Ethereum, this news could be significant.
The "sell orders" that appeared after the rise and pullback may represent a "secondary market active pressure combined with accumulation operations."
After Ethereum broke below 3600, the huge sell orders above were also removed.
If the decision to issue an additional 5 billion USD in SBET is approved, it should be a positive factor for ETH's market.
Show original
18.92K
25
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.