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

Table of Contents

BH NEWS

Autres articles publiés le 21 août 2024

Montenegro Arrests FutureNet Co-Founder in $21M Crypto Fraud Case

El Salvador Bolsters Bitcoin Investment Strategy With Certification Offering

Dubai Court Recognizes Cryptocurrency Salary Payments as Legally Valid

Second Solana ETF Gets Green Light in Brazil

Binance Returns to India After 7-Month Absence

Fed Announces Minutes and Jackson Hole Symposium Begins Tomorrow

Join our free newsletter for daily crypto updates!