According to Spot On Chain statistics, ETH has fallen sharply twice in the past month (a cumulative drop of 23.5%). The following are four key forces that may have led to the recent sell-off:

  • 1. Ethereum Foundation: sold 35,400 ETH (about US$95 million), and still holds 275,000 ETH (about US$677 million).

  • 2. Jump Trading: sold 88,900 ETH (about US$276 million), and still holds 53,600 ETH (about US$132 million).

  • 3. IC0-related whale "0xe17": sold 48,500 ETH (about US$154 million), and still holds 303,000 ETH (about US$751 million).

  • 4. Long-term whale "0x682": sold 25,000 ETH (about 73.9 million US dollars), and still holds 41,600 ETH (about 103 million US dollars).

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