Ethereum: These 4 ‘culprits’ fueled sell-offs, 7% price fall

Four whales including notable institutional investors took part in selling off some of their #Ethereum [ $ETH ] holdings as the altcoin’s price collapsed on the charts. In fact, ETH depreciated by over 7% in just 24 hours.

According to Lookonchain, Cumberland, a trading firm, sent a total of 17,206 #ETH to exchanges.

At the time of the transactions, the coins were worth $57.3 million. #FTX also deposited $8.33 million worth of ETH to Binance. Finally, the other two institutions sold a combined $39.92 million in ETH.