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Drop in ETH price accelerated as big players sell

Whale movements accelerated in Ethereum today. While only one investor made $50 million in sales, similar transactions continued throughout the day, albeit on a smaller scale.$ETH

While whale sales are gaining momentum on Ethereum, ETH price fell twice as fast as BTC. ETH fell more than 4 percent compared to BTC's 2.2 percent depreciation in the last 24 hours. This decline came with an increase in whale movements on the Ethereum blockchain.

According to data compiled by Lookonchain, many whales sell ETH. The first important move today was seen at 06:46. A large investor sold 5 thousand 88 ETH worth 13 million 580 thousand dollars by transferring it to Binance. Then two more whales sold 8 thousand 208 ETH worth a total of 21 million 600 thousand dollars.

The biggest sale was seen at 18:05 in the evening. An investor sent 19 thousand ETH worth about 50 million dollars to Coinbase to dispose of. Another wallet carried 5 thousand 145 ETH worth 13 million 300 thousand dollars to Binance in approximately the same minutes.

ETH has retreated to $2,555 as a result of these sales. The ETH/BTC parity continues to be at the lowest levels of 3.5 years with 0.041.

Exits from ETFs continue

In Ethereum ETFs, unlike Bitcoin ETFs, the outflows continued on the eighth trading day. These funds gave a deficit of 13 million dollars as of yesterday. Bitcoin ETFs, on the other hand, closed all of the last eight trading days positively.