Larry Cermak, vice president of research at The Block, recently revealed on social media that he analyzed more than 100 crypto fund wallets and found that the value of ETH held by these crypto funds has shrunk by about 85% in the past three months.
Larry Cermak said these wallets held about $14.8 billion in total in March, but only $2.2 billion as of June 19.
Larry Cermak further explained that crypto funds may dump ETH on exchanges. He did not calculate this part of the difference data, but the wallet metric is still worth watching.
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