A long-sleeping Ethereum whale has suddenly awakened, sending the crypto community into a frenzy! ๐Ÿ‹ The whale, who accumulated 398,889 ETH in 2016 at an average price of $6 per ETH, started selling 73,356 ETH worth $224.42 million. His remaining 325,533 ETH is still worth $1.1 billion. Is this a sign of distrust in ETH?

Although ETH surged 30% last month, the price has yet to break through $3,500, far from its record high of $4,800 in 2021. Could this be the reason for the whaleโ€™s selling?

Meanwhile, a CryptoQuant report shows unstoppable bullish momentum in the Ethereum derivatives market. ETH open interest has reached over $13 billion, up 40% in four months! Is this a good sign?

What do you think about this whaleโ€™s actions? Is this the right time to buy or sell? Let us know in the comments!