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ETH Ethereum's giant whale has been selling off in recent days, but its price has rebounded strongly and exceeded US$2500.
As the largest altcoin by market value, Ethereum (ETH) has recently become active again with the overall market trend. As of press time, its single-day increase exceeded 4%, closing at US$2150. Earlier today, the asset price even hit a high of $2530.
Although the total market value of Ethereum has climbed to more than US$300 billion, this high also provides an ideal opportunity for some market participants to exit. On-chain data monitoring platform Lookonchain has repeatedly reported that a major whale account sold ETH tokens for several days.
It is reported that this large-scale sell-off began at the beginning of the month. At the time, the unidentified entity immediately transferred US$174 million to the exchange after receiving US$408 million worth of cryptocurrency. Deposit activity continued in the following days, and another $253 million was transferred to multiple trading platforms.
The latest news shows that the giant whale completed final operations earlier today and sold all the remaining 167,855 ETH units, with a total value of approximately US$408 million. This means that the giant whale emptied all its ETH assets in just five days.
Shocking!
The mysterious Ethereum whale has sold all 167,855 ETH units (worth US$408 million) in the past five days.
Despite such a large short-term sell-off, Ethereum's underlying assets quickly rebounded from lows below $2400. At present, its single-day increase exceeds 4%, its price has stabilized above US$2500, and its market value has reached US$305 billion.
In addition, Ethereum's market dominance has also improved, with its market share on CoinMarketCap exceeding 11%.
