PitchBook senior analyst Robert Le commented in the report that this adjustment is a natural and necessary component of a healthy cryptocurrency market. Le attributed the decline in cryptocurrency venture capital deals to macroeconomic factors, including increased market volatility and concerns about a potential U.S. economic recession. Similar to the previous quarter, infrastructure projects such as new blockchains continued to attract the interest of venture capitalists in the third quarter. Le anticipates further consolidation among cryptocurrency exchanges, custodians, and infrastructure companies in the future.
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In a recent transaction, the whale transferred an additional 12,886 ETH, valued at approximately $41.24 million, for sale. This activity highlights the whale's strategic movements in the market, potentially influencing Ethereum's price dynamics. Despite these sales, the whale still retains a substantial holding of 352,036 ETH, valued at around $1.27 billion.
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According to Odaily, U.S. President-elect Donald Trump announced the formation of the Trump Vance Inaugural Committee on November 9. The committee will be co-chaired by former Georgia Republican Senator Kelly Loeffler and New York real estate investor Steve Witkoff.
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