Ethereum

WHALE

<ul><li>Ethereum whales sell over 5 million ETH, impacting its price.</li><li>Ethereum Foundation’s significant ETH sales in a bearish market.</li><li>Ethereum ETFs’ lackluster debut in contrast to Bitcoin’s success.</li></ul>Amid a downturn in the cryptocurrency market, <a href="https://cryptosnewss.com/category/ethereum-news/" rel="noopener noreferrer nofollow">Ethereum’s</a> largest stakeholders, commonly referred to as whales, have been offloading their holdings, resulting in the redistribution of over 5 million ETH worth more than $8.5 billion. This trend, which began in February of this year, shows no sign of shifting toward ETH accumulation, according to data from Santiment, a prominent on-chain analytics firm, as shared by renowned cryptocurrency analyst Ali Martinez.<blockquote>Since February 2023, <a href="https://twitter.com/hashtag/Ethereum?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> whales have capitalized on surging prices, offloading or redistributing over 5 million <a href="https://twitter.com/search?q&#61;%24ETH&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> — equivalent to roughly $8.5 billion.</blockquote><blockquote>Notably, this selling trend continues with no current indication of a shift towards <a href="https://twitter.com/hashtag/ETH?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETH</a> accumulation yet. <a href="https://t.co/Oz3Lct3hbL" rel="noopener noreferrer nofollow">pic.twitter.com/Oz3Lct3hbL</a></blockquote><blockquote>- Ali (&#64;ali_charts) <a href="https://twitter.com/ali_charts/status/1711477876153786831?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">October 9, 2023</a></blockquote><blockquote></blockquote><blockquote></blockquote>The selling activity by these <a href="https://cryptosnewss.com/ethereum-whales-splurge-425-million-on-eth-within-24-hours-potential-rebound-ahead/" rel="noopener noreferrer nofollow">Ethereum whales</a> has significantly impacted the price of the second-largest cryptocurrency by market capitalization. In the past week alone, Ethereum has lost 4.4% of its value, now trading below the $1,600 mark. In contrast, Bitcoin experienced a milder decline of 1% over the same period and is currently priced above $27,250.Over the past 12 months, Bitcoin has outperformed Ethereum in terms of price growth, with a 42% increase compared to Ethereum’s 22%, as per data from CryptoCompare.______________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, , <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and to stay updated on the latest developments and engaging discussions in the realm of Crypto News.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/ethereum-whales-massive-eth-8-5-billion-selloff-what-you-need-to-know/?_gl&#61;1*m0vcfm*_ga*MTQ4ODY0MjczNS4xNjk3MDg2NDUy*_ga_KG07WY2HEC*MTY5NzA4NjQ1Mi4xLjAuMTY5NzA4NjQ1Mi4wLjAuMA.." rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on October 12, 2023.

Ethereum Whales Massive ETH $8.5 billion Selloff: What You Need to Know

Cryptos Newss

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