This whale had originally bought 10,000 ETH for $12.95 million at an average price of $1,295 on October 4 and November 14, 2022. Related Reading: Ethereum Pain Is Far From Over: Why A Massive Drop To $1,400 Could Rock The Underperformer The Ethereum whale didn’t sell any of their ETH holdings, even when the leading altcoin broke through $4,000 twice in 2024.
This capitulation from the ETH whale suggests it might be a good time to offload the leading altcoin, with a further crash in the coming weeks a possibility. Ethereum Whale Dumps 10,000 ETH After 900 Days In an X post, on-chain analytics platform Lookonchain revealed that an Ethereum whale finally capitulated after holding for over 900 days, selling all their 10,000 ETH for $15.71 million.
The crypto firm is now sitting on an unrealized loss of $125 million, seeing as the Ethereum price has declined by over 50% since their purchases. Crypto analyst Ali Martinez predicts that the Ethereum price will crash further in the short term, indicating that Ethereum whales like WLFI could witness more unrealized loss on their ETH holdings.
The story "Major Ethereum Whale Dumps 10,000 ETH After 2 Years, Is It Time To Get Out?" has 463 words across 72 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Major Ethereum Whale Dumps 10,000 ETH After 2 Years, Is It Time To Get Out?" was covered 1 weeks ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 4 news stories per day.
It's most recent story was published 10 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
