Ethereum

USDC

Ethereum (ETH), the second largest cryptocurrency is riding high on the positive sentiment among the investors. ETH price jumped by more than 15% over the past 30 days depicting the building interest regarding the crypto. However, On-chain data depicts that some whales are looking to <a href="https://news.todayq.com/eth-faces-deflation-as-nft-and-defi-activity-decline-report/" target="_blank" rel="noreferrer noopener">dump their ETH holdings</a> amid the recent surge. ICO Ethereum whale makes move 
Lookonchain reported that an Ethereum ICO participant deposited 3,000 ETH (approx worth $6.2 million) into Kraken. This move suggests that the whale is looking to book a good profit. 
It added that this participant had initially received 20,000 ETH at the cumulative cost of $6,200 at GENESIS. However, its current holding now stands at 5,172 ETH (approx worth $10.7 million). 
The On-chain data tracker also reported that a giant whale spent $10 million USDC to purchase 4,865 ETH at a rate of $2,056 in the past 5 hours. It is important to note that the whale has acquired a total of 31,149 ETH (approximately $54.9 million) at an average price of around $1,763 from Binance and decentralized exchanges (DEX). 
If we look at the current market price, the profit for this whale is estimated to be around $9.2 million. Major whale moves recorded 
WhaleAlert revealed several major ETH whales’ movements amid the recent Ethereum price surge. As per the data, whales moved around 55K ETH (approx worth $113 million)&nbsp; across the crypto exchanges over the past 24 hours.&nbsp; 
However, the biggest transaction recorded by the tracker has been of moving 117,458 Ether (approx worth $36 million). The whales moved this token from its wallet to the crypto exchange Coinbase. Another transaction of moving 17,418 ETH (approx $35.6 million) from wallet to Coinbase was also reported.&nbsp; 
Ethereum price is up by an impressive 2.5% over the past 24 hours. ETH is trading at an average price of $2,068, at the press time. Its 24 hour trading volume is marginally up to stand at $10 billion. 
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Ethereum price to take a hit? ETH whales’ move suggests this

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