The whale has sold 45,000 ETH worth $113.2 million over the past two weeks, indicating a strategic liquidation plan.
Despite recent sales, the whale still holds 94,540 ETH, valued at over $230 million, and continues to stake for rewards.
The whale's selling pattern has sparked speculation on Ethereum's future price trend, with more transactions likely soon.
An Ethereum whale, who has been actively selling big amounts of their holdings in recent months, has completed yet another major transaction. A few hours earlier, the whale transferred over 5,000 ETH, worth around $12.22 million, to the cryptocurrency exchange Kraken.
https://twitter.com/WuBlockchain/status/1843459356882616585
This latest move is part of a series of sales that have drawn attention from the cryptocurrency sector.
45,000 ETH Sold in the Past Two Weeks
Over the last two weeks, the whale has offloaded 45,000 ETH worth $113.2 million at an average price of $2,516 per coin. The transactions appear to be a calculated strategy by the whale to gradually liquidate their assets without resulting in a sharp decline in the market.
https://twitter.com/lookonchain/status/1843463993673035826
These transactions have taken place over several years, starting in July 2019 when the whale sold 5,000 ETH for $1.09 million at a rate of $218 per token.
The most recent large sale took place in June 2024, when the whale sold 10,000 ETH for $35.39 million, at a price of $3,539 per coin. The selling activity surged again in September and October 2024, with 45,000 ETH sold at an average price of $2,516 per token.
Whale's Holdings Still Significant
Despite recent sales, the whale still holds a large amount of Ethereum. The wallet now holds 94,540 ETH, worth approximately $230.3 million. In addition, the whale has earned an additional 4,540 ETH through staking services such as Lido and Rocket Pool. The whale received 150,000 ETH during the ICO.
In related news, another Ethereum whale recently sold 6,000 ETH for $14 million. This comes amid a broader period of market volatility, with ETH's price falling from its recent high on September 27.
The continuous selling of the whale has ignited speculation on the price trend of Ethereum. The consistent selling pattern suggests a strategic approach, with additional transactions anticipated in the near future.
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