Happycoin.club - Recent profit-taking by a large cryptocurrency whale threatens to cause a fall in the Ethereum (ETH) rate, which managed to correct after the dump.
Employees of the research company Lookonchain reported that a wealthy investor about a year ago bought 12,906 ETH on the Binance exchange at a rate of $1,890, paying $24.4 million for the coins. He sent the digital assets to the Lido platform, apparently to make money from staking.
During the rapid fall in the price of Ethereum, which occurred on April 30, the crypto whale withdrew 7,000 ETH from the Lido platform. Having waited for the cryptocurrency rate to adjust after reaching the local bottom, the moneybag got rid of the coins on Binance on May 6 at a rate of about $3,100, thus earning a profit of more than $16 million.
Estimated time of sale of Ethereum by crypto whale
Apparently, the trader bet on the continuation of the bearish trend in the Ethereum market. He sold digital assets when their prices reached a downward trend line that emerged in early April.
As the crypto whale predicted, the bulls were unable to storm this barrier, and ETH began to fall in price again. The coin rate changes within the descending channel, so there are no signs of a reversal on the chart yet.
