Ethereum

2024

Impact

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-whale-makes-significant-sales" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Whale Makes Significant Sales</a><br></p>
<p style="text-align: justify">An Ethereum whale has leveraged the recent surge in ETH prices to execute significant sales, realizing substantial profits. As ETH prices soared above $2,600, this particular investor sold 15,000 ETH, securing a profit of $40 million. This action highlights the whale’s strategic moves to capitalize on <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a>.</p>
<h2 id="whale-s-trading-activity">Whale’s Trading Activity</h2>
<p style="text-align: justify">Data from blockchain tracking platform SpotonChain revealed that the whale transferred their ETH to exchanges just before notable price declines. This move came shortly after Ethereum co-founder Vitalik Buterin sent 400 ETH to the crypto mixer Railgun. Over the past month, this whale moved 25,000 ETH worth $74 million to Kraken in two separate transactions.</p>
<h2 id="recent-market-impact">Recent Market Impact</h2>
<p style="text-align: justify">In the past 12 hours alone, 15,000 ETH valued at $39.7 million, with an average price of $2,645, was transferred. This whale activity led to a 2.5% drop in Ethereum’s price, which continues to attract buyers at the $2,600 level, maintaining a market cap of $313 billion. On July 25th, the same whale transferred 10,000 ETH worth $34.7 million, causing a 7.6% price drop.</p>
<h2 id="key-insights-from-whale-s-behavior">Key Insights from Whale’s Behavior</h2>
<p style="text-align: justify">– The whale’s strategic timing of sales indicates advanced market foresight.<br> – Significant sales correlate with noticeable price drops in Ethereum.<br> – Holding large amounts of ETH can influence short-term market dynamics.<br> – Monitoring whale activity can provide valuable cues for other investors.</p>
<h2 id="on-chain-data-analysis">On-Chain Data Analysis</h2>
<p style="text-align: justify">On-chain <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data shows</a> that this whale purchased 96,639 ETH from Coinbase during September 2022’s crypto winter and held it until March 2024 without selling. In March 2024, they sold 55,000 ETH worth $176 million at an average price of $3,199, reflecting a strategic approach to maximizing returns.</p>
<p style="text-align: justify">Ethereum’s price faces ongoing selling pressure due to death cross formations on technical charts and its inability to break the $2,600 mark permanently. Market analyst Peter Brandt indicated that ETH will continue to encounter uncertainties unless it surpasses the $3,050 level. Additionally, reduced Ethereum gas fees have led to fewer ETH coins being burned, subsequently increasing supply and negatively impacting prices.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-whale-makes-significant-sales" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Whale Makes Significant Sales</a></h5>

Ethereum Whale Makes Significant Sales

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