Recently, one of the largest holders of Ethereum, whose fortune exceeds 1.14 billion dollars in ETH, began a sell-off after an eight-year period of inactivity. According to an analysis by Lookonchain, this 'crypto whale' has at its disposal 398,891 ETH and has already transferred 13,400 ETH (approximately 37.38 million dollars) to exchanges for sale. This move has raised concerns that such a volume could exert serious pressure on the price of Ethereum.
The history of the 'whale' dates back to 2016 when it began actively accumulating #Ethereum through the decentralized exchange ShapeShift. Interestingly, the accumulated funds were distributed across 28 wallets and then transferred to other addresses, where they remained dormant until now. The timing of the sales is also noteworthy: it coincided with a recent 6.8% increase in #ETH .
The presence of such a significant sum in a whale's account may increase selling pressure and lead to a decrease in the price of Ethereum, especially given the current difference in dynamics $ETH and #Bitcoin . Over the past 12 months, Bitcoin has shown a gain of over 111%, while Ethereum has increased by about 49%. The success of $BTC is related to the popularity of its exchange-traded funds (ETFs), while Ethereum funds are showing weak activity.
Moreover, the political climate in the USA may influence the crypto market. The recent victory of Donald Trump in the elections has given new hope for more lenient regulation. With his support for the cryptocurrency sector, legislative changes are possible, as well as the appointment of officials who are more favorable to digital assets. All this could create conditions for improving the investment climate in the crypto sphere, but the potential sell-off by large holders of ETH remains a risk for the second-largest cryptocurrency.
Under the influence@Sasha why NOT
