đđEthereum Price Drops 23%, Costing Crypto Whales Millions đđ
Ethereum has suffered a 23% drop in value that affected major cryptocurrency holders. This sharp drop follows a similar downward move seen in Bitcoin and other markets on August 5. According to on-chain analytics platform Lookonchain, 25 addresses collectively lost 63,732 ETH, equivalent to a loss of approximately $150 million.
The massive drop in the cryptocurrency market on August 5 led to a 22% drop in Ethereum, pushing its price to $2,171. This sudden drop in value comes as part of a broader market volatility affecting Bitcoin and other cryptocurrencies.
According to Lookonchain data, 25 addresses suffered significant losses during this process, collectively losing 63,732 ETH, or approximately $150 million. The biggest loss occurred at the address "0x99e8âŠddc3", which alone lost 9,834 ETH, or approximately $23.16 million.
This huge loss of value affected not only large investors, but also many small investors; many investors quickly lost a significant portion of their investments. Market experts emphasize the importance of being prepared for such volatility, which is common in the crypto world.
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