Major crypto market maker Jump Trading sold $29m Ethereum, contributing to its price decline.

Jump Trading, a major crypto market maker, has sold $29m worth of Ethereum in recent weeks, contributing to the cryptocurrency's price decline. This follows other top market makers selling over 130,000 ETH since July 24th, totalling over $290m. Jump Trading still holds around $63m worth of Ethereum. Despite these large sell-offs, some market analysts are optimistic about Ethereum's future due to demand outpacing supply and $150m net inflow into ETFs over two days.