A whale has recently sold a combined total of 31,000 ETH, valued at $79.1 million, contributing to a significant 4% decline in Ether price.
About 649 Ethereum has been moved to Paxos by Vitalik Buterin in his continuous ETH selloff move
Ethereum has surged above $2,600, with one trader making an impressive $554,000 profit from smart trades.
Ethereum’s scalability push is gaining momentum with a Vitalik Buterin sponsored plan to increase Blob count.
The Genesis creditor with the wallet address 0x999…46E has received the largest compensations from the repayment process and has been offloading ETH over the past month.
Crypto bettors are speculating about another rate cut, with Polymarket showing a near-even split: 43% expecting a 50 bps cut and another 48% anticipating a 25 bps reduction.
Ongoing sell-offs may threaten retail investor confidence and market stability.
Ethereum has recently come under the spotlight as crypto enthusiasts raise worrying questions about its fading popularity.
The supply of Ethereum on centralized exchanges has remained stagnant since March this year, despite the approval of US spot Ether ETFs.
Binance’s rebuttal comes amid growing frustration over the stolen funds.
The upcoming testimony of the US SEC Commissioners might involve talks about Ethereum and its securities status.
Meanwhile, the whale is not alone in this wave of large ETH movements. In the last 24 hours, two other Ethereum whales have also moved substantial amounts of ETH to Coinbase, likely preparing to sell.
Ethereum’s value relative to BTC has declined 53% since the Merge in September 2022.
Ethererum’s current funding rate, approximately 0.0056%, has returned to levels seen in September 2023, after which the ETH price has reached 166% in six months.
Institutional staking firm Attestant said that Ethereum could grab some of this mindshare through a mix of better value proposition and refined marketing.