$ETH whales are panicking, shows on-chain data, but regular retail investors should not be concerned
whales are showing signs of panic following the sale of substantial holdings by both Vitalik Buterin and the Ethereum Foundation. Recently, two significant Ethereum whales dumped a combined total of 19,090 ETH, valued at approximately $35.7 million, on Uniswap after the Ethereum Foundation offloaded 15,000 ETH to Kraken.
for 17.07 million DAI at a rate of $1,867 per ETH. These massive sales have ignited concerns among Ethereum holders and prompted a surge in selling activity beyond the whale group.The increased selling pressure has had a significant impact on Ethereum's price, which plummeted from $1,900 to $1,850 within hours following a surge in selling activity. As a result, Ether is now consolidating around the 50-day moving average, causing uncertainty and speculation among investors.
In any case, panic among Ethereum whales has highlighted the vulnerability of the market to the actions of influential individuals and organizations. The foundation's actions are not causing fluctuations on the market for the first time. The last time the foundation sold its holdings, the industry entered a prolonged bear market that it has not exited to this day.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin (BTC) Whales Just Drove $240 Million Away From ExchangesBitcoin whales massively draining exchanges, which could signal a potential drop on the market
Read more »
Vitalik Buterin and ETH Foundation Sell $30 Million in Ethereum As ETH About to Break $2,000.VitalikButerin and ETH Foundation ethereum sell 15,200 $ETH. lookonchain santimentfeed
Read more »
How to check an Ethereum transactionKeep your finger on the pulse of your Ethereum transactions — learn the ins and outs of tracking your ETH with our comprehensive guide
Read more »
ETH Deneb Upgrade: Ethereum Developers Reveal Key EIP InclusionsEthereum developers make progress in plans for ETH's next upgrade $ETH
Read more »
Ethereum (ETH) Diamond Hands Set New Record as ETH Price Reconquers $2,000Share of Ethereum (ETH) circulating supply owned by long-term holders revisited historic highs, FTX collapse aftermath involved
Read more »
'First Meme Coin on L2 Will Shift This Equilibrium,' Ethereum (ETH) Veteran Comments on New Hype'First meme coin that blows up' will boost L2s adoption, Synthetix $SNX founder kaiynne opines memecoin $PEPE $FLOKI $SHIB $DOGE
Read more »