Ethereum Whales Sell $136M ETH on Binance
The Ethereum price surge paused as whales moved $136 million worth of ETH to exchanges, triggering a decline in the cryptocurrency's value.Ethereum Whales Sell $136M ETH on Binance
Ethereum's robust momentum hit a roadblock on December 29, 2023, as the cryptocurrency, following an impressive rally, experienced a setback with losses extending into Friday. The surge on Thursday drove Ethereum's price above the significant $2,445 threshold, marking a noteworthy achievement. However, this upward momentum was short-lived, with the crypto slipping to around $2,350.
The downturn is attributed to substantial whale transfers, indicating a move by these large holders to secure profits from the recent price surge. Over the last 24 hours, whales have unloaded more than $136 million worth of ETH across various crypto exchanges.
Whale Alert on X reported three significant Ethereum whale transactions post the recent price surge, totaling $136.18 million. The latest transaction, occurring approximately four hours ago, involved the transfer of 10,000 ETH from an unknown wallet to Gate.io, amounting to $23.26 milli.
In another notable transaction, 14,612 ETH, valued at $34.11 million, was dumped to Coinbase from an undisclosed wallet. The largest dump, recorded about 15 hours ago, involved 33,400 ETH, worth $78.81 million, directed towards Binance from an unidentified wallet.
Ethereum's Latest Market Update
As of the latest market update, the price of Ethereum (ETH) has experienced a 1.19% decline, settling at $2,353.05 as of press time on Friday. This follows a notable 30-day high of $2,445.02 achieved on Thursday, December 28. Despite the current dip, the cryptocurrency has seen a commendable 3% gain over the last seven days, attributed to the recent bullish trend.
Ethereum has demonstrated a robust 1-month gain, exceeding 14%. TradingView analytics reveal that the current ETH price is well above the 50-day EMA of 2156.90, indicating a prevailing bullish sentiment despite the recent pullback. The RSI value remains neutral at 59.5.
