Ethereum

Coin

<p>An Ethereum whale who took part in the blockchain's original Initial Coin Offering (ICO) recently sold 3,000 ETH, worth around $7.64 million. This has sparked worries about a possible price drop for <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">Ethereum</a>, especially since the whale's past sales have influenced the market. The last time this whale sold a large amount, Ethereum's price fell by 15%. </p>   
<p>With the market already facing some corrections, could this new sale hint at another dip?</p>   
<h2 class="wp-block-heading" id="h-ethereum-whale-sells-7-64m-in-eth">Ethereum Whale Sells $7.64M in ETH</h2>   
<p>The whale's past activity adds significance to this recent move. On July 1st, blockchain analytics firm Lookonchain reported that this same ICO participant sold 7,000 ETH, valued at $24.28 million at the time. That sale was followed by a nearly 15% drop in Ethereum's price. The timing of the recent 3,000 ETH sale has fueled speculation that a similar scenario could unfold.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/lookonchain/status/1849376476791177670 
 </div>
</figure>   
<p><strong>Market Reaction: Another Drop Ahead?</strong></p>   
<p>The sale of 3,000 ETH signals a potential impact on Ethereum's price trends. As the market navigates ongoing corrections, the whale's action raises the risk of more volatility. Their previous trades have coincided with significant price swings, making investors wary of what could come next.</p>   [post_titles_links postid="371710"]   
<h2 class="wp-block-heading" id="h-tracking-the-whale-s-journey">Tracking the Whale's Journey </h2>   
<p>This investor isn't just anyone. During <a href="https://coinpedia.org/beginners-guide/what-is-ico/" target="_blank" rel="noreferrer noopener">Ethereum's ICO</a>, the whale purchased 254,908 ETH for just $79,000. Today, that investment is worth a remarkable $646 million. Even after selling substantial amounts recently, the whale still holds 37,070 ETH, valued at about $93.8 million.</p>   
<p>While a price drop isn't guaranteed, the pattern from past sales has traders on alert. The previous impact on Ethereum’s value has made investors cautious as they watch for any signs of a repeat. Whether this latest sale will trigger another significant correction is uncertain, but the possibility of market turbulence is very real.</p>   
<p><strong>The whale has made its move. Now, the question is: will traders follow the ripple effect?</strong></p>

Another ETH Dump? Whale’s Recent $7.64M Sell-Off Raises Alarms

Table of Contents

CoinPedia News

Other articles published on Oct 24, 2024

South Korea Prepares a New Law for the Regulation of Cryptocurrencies

5 Best Dogecoin and Shiba Inu Alternatives to Turn $200 into $30,000 with 150x Gains in 2 Months

MicroStrategy’s Michael Saylor Calls for Freedom of Choice in Bitcoin Custody Amid Backlash

Bitwise: Bitcoin (BTC) Will Hit $92K If Donald Trump Wins Election!

Analyzing IOUSDT’s Growth Potential: Key Resistance and Macro Targets Explained

Crypto Alert 82k Malicious Wallets Discovered- Chainalysis

Join our free newsletter for daily crypto updates!