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The post <a href="https://cryptosnewss.com/ethereum-whale-sells-113m-in-eth-what-does-this-mean-for-the-market/" rel="noopener noreferrer nofollow">Ethereum Whale Sells $113M in ETH! What Does This Mean for the Market?</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.A participant in Ethereum&#39;s 2014 initial coin offering (ICO) has made headlines by selling over $113 million worth of ETH in the past two weeks, according to data from the crypto tracker <a href="https://x.com/lookonchain/status/1843463993673035826" rel="noopener noreferrer nofollow">Lookonchain</a>. This whale, who received 150,000 ETH at the Genesis block for a total cost of just $46,500, has been actively liquidating their holdings since September 22nd.The recent activity included a transfer of 5,000 ETH worth $12.22 million to a Kraken deposit address on Monday, continuing a trend of significant sell-offs. In total, the whale has offloaded 45,000 ETH, translating to $113.2 million at current prices. Remarkably, this whale’s initial average price per ETH was a mere $0.31, and their recent sales were executed at an average price of $2,516 per ETH, showcasing an extraordinary 811,513% gain.The massive sell-off has garnered significant attention within the cryptocurrency community, reflecting both the potential for substantial profits from early Ethereum investments and broader market trends. Despite the whale&#39;s significant sales, <a href="https://cryptosnewss.com/ethereum-on-the-brink-will-eth-crash-to-2150-top-investor-warns-of-major-downside-risk/" rel="noopener noreferrer nofollow">Ethereum&#39;s</a> price remains relatively stable, trading at around $2,437 at the time of writing.Market analysts are scrutinizing the implications of such large transactions on Ethereum’s price and overall market sentiment. While some perceive this sell-off as a bullish signal indicating market confidence, others warn that large-scale liquidations could introduce increased volatility.The broader cryptocurrency market continues to evolve, with actions from major holders like this ICO participant playing a pivotal role in shaping market dynamics. Investors and traders are advised to stay informed and make strategic decisions based on comprehensive analysis and prevailing market conditions.As Ethereum navigates these market movements, the actions of significant stakeholders will remain a key factor in its price trajectory and market sentiment.The post <a href="https://cryptosnewss.com/ethereum-whale-sells-113m-in-eth-what-does-this-mean-for-the-market/" rel="noopener noreferrer nofollow">Ethereum Whale Sells $113M in ETH! What Does This Mean for the Market?</a> appeared first on Cryptos Newss.

Ethereum Whale Sells $113M in ETH! What Does This Mean for the Market?

Cryptos Newss

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