Whale movements continue in the Bitcoin and altcoin world. Each movement has a different meaning. It can also give some insight into the course of the market. Movements that develop in the midst of market fluctuations inevitably attract attention. About two hours ago, an Ethereum whale sold at a loss. Let’s look at the details.
Significant sale of Ethereum from altcoin whale
In a significant movement, the movements of a prominent whale known as 0xc30 are notable. Accordingly, he recently sold 2,714 altcoins ETH for 4.15 million USDC at an average price of $1,530. This transaction took place approximately two hours ago via the intermediary address 0x46E.
🚨 Whale 0xc30 sold 2,714 $ETH for 4.15M $USDC at $1,530 on avg via middle address 0x46E ~ 2hrs ago.
Overall, he has sold a total of 3,265 $ETH for 5.04M $USDC at $1,543 on avg since Oct 9 (4 days ago).
Currently, the whale still stakes 4,448 $ETH ($6.87M) across 2 addresses… pic.twitter.com/TBMXJh4VCM
— Spot On Chain (@spotonchain) October 13, 2023
The market interprets this move as an ongoing selling frenzy. This sale is part of a larger selling spree of 0xc30 selling a total of 3,265 ETH for 5.04 million USDC at an average price of $1,543. This sustained selling has occurred over the last four days since October 9th. This whale is shedding a significant amount of altcoin Ethereum. On the other hand, market watchers want to understand the impact of these transactions on the crypto world.
Whale’s remaining assets
Despite the significant sell-off, the whale still holds 4,448 altcoins ETH, equivalent to approximately $6.87 million. Accordingly, it continues to have a share in the market. However, these assets come at a cost, as estimated losses from altcoin ETH amount to approximately $2.3 million. This suggests that ongoing market volatility and recent sell-offs are not in the whale’s favor. The actions of large holders like 0xc30 can significantly impact the crypto market. Buying or selling decisions are closely monitored by the community. On the other hand, it is a matter of curiosity how these transactions will affect the broader market. It is also unclear whether other traders and investors will follow suit or take a different approach in response to this whale’s moves.
As Kriptokoin.com, the cryptocurrency market is no stranger to the influence of whales. Of course, 0xc30’s recent Ethereum sell-off is attracting the attention of market participants. On the other hand, the market is monitoring other developments that may arise as a result of these transactions. In this context, it will continue to follow trends. The Bitcoin and altcoin space remains extremely dynamic and unpredictable. Therefore, investors and traders should be informed. Additionally, one should be careful in decision-making processes. We will continue to inform you about the whale’s future movements.
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