Ethereum whales appear to be dumping their ETH holdings
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The broader crypto market has been consolidating after last week’s crash. The price of Ethereum, the leading altcoin, has crashed 16.68% over the last 30 days. This shows the intensity of this market dump, impacting major coins like Ethereum and JPMorgan Has Dire Warning for Bitcoin Bulls While many are still expecting a price recovery from ETH, it appears that some traders are dumping their holdings. In the case of this Ethereum whale, they have almost $34.35 million in ETH. Since this is a major amount, it can further impact the market and push the ETH price to lower levels.
Whales always play a crucial role on the digital asset market. The buying and selling from these traders leave short-term impacts on the price movements of a particular coin. In this case, the Ethereum price can absorb the toll of this sell-off. It may hinder the potential recovery of the coin after a recent downturn.around $3,072. While the price is up 0.52% in the last 24 hours, it has failed to recover from the previous losses.
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