However, the fall of Ethereum was greater because a whale transferred 73,224 ETH (86 million USD) to the Binance exchange in the afternoonaccording to on-chain researcher Lookonchain. Trading tokens on an exchange is considered a sell signal on the crypto markets.
Asian stock markets stumbled, with the Hong Kong’s Hang Seng Index fell 4% at the open and closed 1.57%. The Shanghai Composite Index closed 0.75% lower, while Japan’s Nikkei 225 index lost 0.42%.
Protests in China erupted on Friday after a fire that killed at least 10 people in an apartment building in Urumqi, in the northwestern region of Xinjiang. According to reports, many people were locked inside their homes due to China’s zero covid policy and were unable to escape.
“The wide variety of incidents indicates a broader simmering resentment of China’s approach to covid,” he said. Andrew Sullivan, a market analyst and former stock trader, in a statement shared with Forkast.
were reported protests on university campuses and in up to eight cities. Hundreds of protesters clashed with police in Shanghai, reported Reutersadding that the protests are the most widespread sign of discontent with the government since President Xi Jinping took power 10 years ago.
Source: Ambito
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