$ETH faced spike in selling pressure at the worst time possible
Previously, various on-chain sleuths speculated over the connections of Jump Crypto to fallen FTX exchanges and the amount of funds held by the investor on the crypto trading platform.
Considering the illiquid state of the market and Jump's potential issues with credibility, a significant loss caused by the implosion of the exchange would have been the final blow to the exchange's ability to cover existing liabilities to creditors. has had to withstand massive selling pressure coming from numerous entities, including FTX and Jump Crypto.
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