Ethereum

Bitcoin

<p>Over the past week, the crypto market has suffered a significant fall, affecting all assets. The flagship altcoin, Ether, recorded a 10.31% drop on Thursday. Nevertheless, a clever whale managed to dodge the turbulence by liquidating a significant amount of ETH just before the crash.</p> 
<h2 id="h-the-ethereum-whale-s-winning-strategy-anticipation-before-the-storm">The Ethereum whale’s winning strategy: Anticipation before the storm</h2> 
<p>Last week saw a violent upheaval on the crypto market. The widespread crash resulted in a loss of around $1 billion of the market’s total capitalization. This tumultuous episode was largely triggered by SpaceX’s decision to liquidate its Bitcoin (BTC) holdings, worth an estimated $373 million.</p> 
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<p>However, this news had a snowball effect, leading to a massive sell-off and causing a 12% reduction in the price of Bitcoin, in turn leading to a series of declines for ETH and other cryptos.</p> 
<p>For example, ETH fell from $1,808 to $1,615. This trend was accentuated by the largest single liquidation on the ETH market, reaching almost $55.92 million in a single day. In total, liquidations on the ETH market reached some $308 million.</p> 
<p>In the midst of all this turmoil, however, one Ethereum whale demonstrated a noteworthy strategic decision. According to Lookonchain, it sold 22,341 ETH worth around $41 million just before the market slowdown.</p> 
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     <p lang="en" dir="ltr">The whale was very smart and dumped 22,341 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($41M) before the market crashed.<br><br>Even though he lost ~$1.7M this time, he successfully avoided the market crash.<br><br>Perhaps he will buy <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> back at a cheaper price in the future.<br><br>Follow this smart whale.<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/S4Wv8XRlhW" rel="noopener noreferrer nofollow">https://t.co/S4Wv8XRlhW</a> <a href="https://t.co/BcdzdpmbIA" rel="noopener noreferrer nofollow">pic.twitter.com/BcdzdpmbIA</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1692389068401963083?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 18, 2023</a> 
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<p>This initiative was hailed by the analysis team as a smart move. Although it recorded losses of around $1.7 million, the stock managed to mitigate the effects of the widespread crash.</p> 
<p>Despite recent setbacks, Ethereum’s prospects are bright. The coming months look set to be good ones, buoyed by developments linked to Ether-futures ETFs in the USA. Indeed, the US SEC is preparing to approve the first Ether-future ETF on US territory.</p> 
<p>Several asset managers, such as Bitwise, ProShares, Grayscale, VanEck, and Valkyrie, have submitted applications to offer Ether-futures ETFs to US investors. Sources indicate that most of these applications could receive approval by October.</p>

Ethereum whale sells $41m ETH before crypto market crash

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