Ethereum

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-sells-significant-portion-of-ethereum-holdings/" data-wpel-link="internal">Whale Sells Significant Portion of Ethereum Holdings</a><br></p>
<p style="text-align: justify">A notable development occurred in the altcoin market. A cryptocurrency whale, known for holding Ethereum (ETH) for a long time and referred to as a “diamond hand,” sold a significant portion of their ETH holdings. According to the blockchain analysis platform Lookonchain, the whale offloaded 15,000 ETH a few hours ago.</p> 
<h2 style="text-align: justify" id="strong-whale-pocketed-132-million-in-profit-strong"><strong>Whale Pocketed $132 Million in Profit</strong></h2> 
<p style="text-align: justify">Data shows that in September 2022, in the midst of a bear market, the whale purchased a total of 96,639 ETH at $1,567 per ETH and held this investment until now. The whale, who withdrew ETH from Coinbase, was dubbed “diamond hand” by the crypto world due to their long-term investment strategy.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-381894" src="https://coin-turk.com/wp-content/uploads/2024/08/Altcoin-krali-eth.png" alt="" width="559" height="726"></p> 
<p style="text-align: justify">With the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a> starting in March 2024, Ethereum’s price began to rise. During this period, when Bitcoin reached record levels of nearly $74,000 and ETH surpassed $4,000, the whale started to realize their profits. According to data provided by Lookonchain, the cryptocurrency whale sold a total of 55,000 ETH for $176 million at $3,199 each since March. After the sale, the whale currently holds 41,639 ETH worth $107 million.</p> 
<p style="text-align: justify">With this sales strategy, the whale made a total profit of approximately $132 million. The whale’s sale led to speculation in the <a href="https://en.coin-turk.com/bitcoin-price-drops-below-60000-despite-strong-start-in-july/" data-wpel-link="internal">cryptocurrency market</a> about the <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future direction</a> of ETH’s price.</p> 
<h2 style="text-align: justify" id="strong-current-status-of-eth-price-strong"><strong>Current Status of ETH Price</strong></h2> 
<p style="text-align: justify">Ethereum recovered from the $2,500 support level on August 15, but bulls are struggling to push the price above $2,700. At the time of writing, ETH is trading at $2,572, down 3.45% in the last 24 hours.</p> 
<p style="text-align: justify">If the price continues to fall from its current level, it is likely that the altcoin king will drop below $2,500. In this scenario, the price could fall to $2,309, where bulls may attempt to halt the decline again.</p> 
<p style="text-align: justify">On the other hand, if buyers can push ETH above $2,690, the price could rise to $2,850. Selling pressure is likely at this level, but if bulls prevail, it could signal the end of the downtrend. In this scenario, a decisive break above the 50 and 200-day simple moving averages at $3,000 and $3,246 could indicate the start of the next uptrend for the altcoin king.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/whale-sells-significant-portion-of-ethereum-holdings/" data-wpel-link="internal">Whale Sells Significant Portion of Ethereum Holdings</a></h5>
<p>The post <a href="https://en.coin-turk.com/whale-sells-significant-portion-of-ethereum-holdings/" data-wpel-link="internal">Whale Sells Significant Portion of Ethereum Holdings</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Whale Sells Significant Portion of Ethereum Holdings

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