Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team based in Mumbai. Omkar previously worked at FXStreet and Mumbai-based brokerage house as FX analyst and holds a masters degree in Finance. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
The sell-off was likely catalyzed by users looking to reclaim their ETH in low liquidity conditions and large liquidations of ezETH-collateralized positions.