The Ether bottom could be in, as market makers like Jump Trading are running out of ETH to sell.
Jump Trading — the market maker who contributed to the recent market correction — is still selling Ether, but the market may be approaching a bottom.
Jump Trading sold another 11,501 Ether (ETH) worth over $29 million and redeemed another $48 million worth of Ether in preparation for selling.
However, the selling pressure from the market maker is coming to an end, as Jump Trading only has another 21,394 Wrapped Lido Staked ETH (wstETH) worth $63 million, according to an Aug. 7 post by Lookonchain.
