$448.6 million in $ETH shifted to Coinbase to sell whale_alert
The aforementioned weekly ETH price drop took place from Wednesday, Feb. 8, to today. The biggest plunge in two massive red candles was observed on Thursday as 5.15% of the ETH price was wiped out.
At the time of this writing, Ethereum is trading at $1,521 per token. It has followed the flagship cryptocurrency Bitcoin. BTC has also lost 4.64% since Thursday, falling from $22,748 to the $21,692 level. The fall occurred due to the rise in the Consumer Price Index in December. This rise increased the risk of inflation going higher, per some economists.
U.S. monthly consumer prices rose in December instead of falling as previously estimated and data for the prior two months was also revised up, which some economists said raised the risk of higher inflation readings in the months ahead.
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