As Crypto Whale Starts Sales, Altcoin Price Starts to Drop: Attention!

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Ethereumhad experienced a sharp price drop in the past few days and left question marks in the minds of investors. The price fell from 1940 dollars to 1847 dollars in a short time. Although there are a number of different reasons that shaped the volatility in the market, the movements of the whales also seem to have triggered a significant pressure on the selling front.

The movement of whales is a cryptocurrency can be effective in shaping its price. It was determined that the Ethereum whale sold some of the 25,000 ETH (worth $47 million) it sent to Binance, and after a while, it attracted 15.9 million USDT on the stock market. was done.

This whale, which is famous for buying low and selling when high, has managed to make good profits with Ethereum in the past few months. Whale continued to take profits, while creating a selling pressure in the market.

Just nine hours after the first transaction, the whale attracted another 16 million USDT, further adding to Ethereum’s downtrend. Analysts believe that the sudden drop in ETH price is largely due to the significant selling of this whale.

With around 8,000 ETH yet to be sold, the whale’s future trading activities could potentially put additional selling pressure on Ethereum’s market cap. However, it is also crucial to remember that crypto markets can be affected by numerous factors, including changes in global economic trends, regulatory news, and investor sentiment.

You can follow the current price action here.


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