Due to its large developer community, broad use, and essential role in decentralized finance (defi) and other blockchain applications, Ethereum continues to hold a unique place in the market.
Thanks to Bitcoin’s (BTC) recent jump above $44,000, the global crypto markets have been experiencing bullish momentum, which has positively impacted the price of Ethereum (ETH).
As a result, a large number of early investors may attempt to sell their Ether holdings for a profit. One large whale had begun to unload its stocks.
Ethereum Whale: Change Of Appetite
The whale, who currently holds 10,000 ETH worth over $23 million in total, has started to unload his ETH. The whale has moved a substantial 3,700 ETH deposit to the Binance platform, which is valued at $8.72 million.
Now, what does this mean for the Ethereum ocean? Well, this big whale’s actions could go two ways: On the bright side, if the whale’s selling strategy brings more stability and balance to Ethereum’s prices, it could be a good thing for the whole Ethereum market. It’s like the whale is creating smoother waters for everyone sailing in the cryptocurrency sea.
The whale, who was good at swing trading $ETH, started selling $ETH.
He/she deposited 3,700 $ETH($8.72M) to #Binance 1 hour ago and currently holds 10K $ETH($23.58M).https://t.co/TBXBbfkV1N
