Ethereum $2,236.91 The price fell to $ 2,000 with the uncertainty in the markets. During this decline, a large Ethereum whale was determined to sell high volumes. It is stated that the transactions are put pressure on market sensitivity. Market analysts warn the possible effects of this big sale.
40,000 ETH sales from Ethereum whale
According to On-Chain data, a leading Ethereum whale offered 40,000 ETH to the markets. The total volume of the amount of Ethereum sold is calculated as approximately 89.9 million dollars. The whale in question, in August last year, after the Genesis Trading Case, this existence. This sale of the whale corresponds to approximately 30 %of the Ethereums in his hand.
The sale operations were carried out in the market (OTC) markets. Such large volume operations can directly affect the volatility in the market. The fact that whales sell large -scale Ethereum may cause concern among market participants.
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Evaluations that attract attention from analysts
Market analysts evaluated Ethereum’s price movements based on historical data. Analyst Benjamin Cowen said that existing price movements are similar to the past monetary tightening periods of the Federal Reserve.
“This cycle is quite similar to the price movements observed during the QT (quantitative tightening) periods. However, this time the tightening time may take longer. ”
Cryptoquant data also shows that the unprecedented profit rate obtained by Ethereum whales are entering the decline trend. There is a continuous decline in ETH/BTC. This development poses a negative perception in the market.
Data on chain in the last two weeks show that investors have transferred more than 60,000 ETHs. Ethereum movements of a large scale indicate that the pressure on the markets can continue. In this environment of uncertainty, the price of Ethereum will progress in the future.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
