In a recent development, ethereum‘s latest resurgence (more than 12% in the last seven days) could be threatened by the actions of a ethereal whale who could potentially end the token’s rally and cause it to fall further.
ethereum Whale Moves 30,710 eth
in a mail Shared on platform Binance cryptocurrency exchange As of September 20, I had just transferred 30,710 eth (from the withdrawn funds) to Binance.
The account further mentioned that the average eth price at which this whale had accumulated these tokens is approximately $1,667, which instantly shows that the whale is currently in profit and could be looking to make some of its profits by selling the transferred tokens on Binance.
However, the crypto community will be more concerned about how bitcoin-in-danger-analyst-shares-views/” rel=”nofollow”>potential sale could negatively affect the market. would join bitcoin/” rel=”nofollow”>sales pressure on the asset, which could cause a drop, especially if there is no buying pressure to match it.
Some might be more inclined to believe that this amount of eth may not matter in the grand scheme of things, considering it was recently reported that ethereum ‘billionaires’ control a third of the token’s circulating supply. This category of people are those who own 1 million eth or more.
It is also worth mentioning that string data shows that the ethereum whale, since the transfer of the 30,710 eth, went on to transfer the tokens to another Binance wallet, which has distributed the eth between different wallets.
Another busy eth whale
in a mail shared on its X platform, the analysis platform Scopescan revealed that the 1 inch The investment fund had sold 4,685 stETH (ethereum-coinbase-binance/” rel=”nofollow”>bet ethereum on the Lido platform) for $8.54 million at an average price of $1,823. In the process, they made an estimated profit of $1.28 million, as these stETH were said to have been purchased on October 13 at an average price of $1,550.
The move may not surprise some, as the investment fund, which has close ties to DEX aggregator 1Inch, has been ethereum/” rel=”nofollow”>actively trading ethereum since the beginning of the year. During that period, he purchased a cumulative total of 17,000 eth and then made some profits by liquidating 11,000 eth at $1,906 for $21 million, making a profit of approximately $3.7 million in the process.
These whale movements may have had an impact on The price of ethereum as the token, at the time of writing, is trading at around $1,770, a drop of over 2% in the last 24 hours, according to ethereum/” rel=”nofollow”>data from CoinMarketCap.
<img decoding="async" class="aligncenter" src="https://technicalterrence.com/wp-content/uploads/2023/10/Massive-Ethereum-Whale-Transfer-Threatens-to-End-ETH-Rally-Heres" alt="Tradingview.com ethereum Price Chart (eth Whale)” width=”2650″ height=”1758″ loading=”lazy”/>
eth price picks up steam | Source: ETHUSD on Tradingview.com
Featured image from Nairametrics, chart from Tradingview.com
