According to Mars Finance, on November 16th, Tom Lee, Chairman of the Board of Bitmine, the largest Ethereum holder, stated: "The recent discovery of one (or two) market makers with significant balance sheet vulnerabilities has exposed weaknesses in the crypto market. Sharks are hunting, intending to trigger liquidations and a sell-off of BTC. Is this pain short-term? Yes. Will this change ETH's supercycle (i.e., Wall Street building an ecosystem on the blockchain)? No. But now is not the time to use leverage; don't get liquidated."
Tom Lee: The growing pains are short-term and will not change ETH's supercycle.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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