**Ethereum Market Turbulence: Whale Sells, Prices Drop**

Ethereum is facing renewed fear and uncertainty as Ether prices plummet. An Ethereum whale, who participated in the 2014 ICO, has offloaded a significant chunk of ETH. On Oct. 3, Lookonchain reported that the entity sold 19,000 ETH worth $47.5 million over the past two days. This follows a late September sale of 12,000 ETH.

ETH prices have dropped nearly 10% since Oct. 1, hitting an intraday low of $2,365 on Oct. 3. The ETH/BTC ratio has also fallen to levels not seen since mid-September.

Despite the downturn, Ethereum supporters remain optimistic. Ryan Sean Adams highlighted Ethereum's economic impact, while Joseph Delong pointed to upcoming network upgrades. Institutional interest is also growing, with Ether ETFs seeing a $20 million inflow on Oct. 2, driven by BlackRock. Conversely, Bitcoin ETFs experienced $53 million in outflows.