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Ethereum Whale Sells 4500 ETH: Is a New Wave of Selling Coming?

Big players in the crypto market known as whales are once again making moves to sell their Ethereum (ETH) holdings. Recent data from crypto analytics platforms reveals that an Ethereum whale unloaded 4500 ETH amounting to a staggering $8.3 million at an average price of $1859.

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Big players in the crypto market known as whales are once again making moves to sell their Ethereum (ETH) holdings. Recent data from crypto analytics platforms reveals that an Ethereum whale unloaded 4500 ETH amounting to a staggering $8.3 million at an average price of $1859.

On chain data analysis platform Lookonchain has shared an interesting update on a significant crypto transaction involving an address with a substantial amount of ETH . The address in question sold 4500 ETH valued at around $8.3 million starting at a price point of $1859.

Selling 4500 ETH from Ethereum Whale:

As the crypto market continues to face uncertainty it seems that some of the biggest players or whales are once again opting to sell various amounts of cryptocurrencies. The latest data from crypto analysis platforms suggests this selling trend among whales.

Lookonchain renowned for its comprehensive portfolio of crypto assets and its ability to provide data on large scale transactions conducted by whale addresses has highlighted a major sale by an Ethereum whale during the day.

According to Lookonchain’s data this Ethereum whale successfully sold off 4500 ETH with an average value of $8.3 million starting from yesterday’s price levels of $1859.

Ethereum Whale Sells 4500 ETH: Is a New Wave of Selling Coming?

Ethereum (ETH) Approaches $1900 Levels Again:

Despite the selling spree observed among Ethereum whales the value of ETH has seen a remarkable surge since the morning hours coinciding with a broader market rally in the crypto space. Bitcoin (BTC), the leading cryptocurrency, started trading at $27,150 after experiencing significant gains in the past 24 hours. Meanwhile Ethereum (ETH) has climbed back up to $1893 and is inching closer to the $1900 mark.

The total market capitalization of the cryptocurrency ecosystem now stands at an impressive $1.14 trillion as reported by CoinMarketCap (CMC). Moreover recent data from Coinglass indicates that due to market volatility a substantial $55 million worth of short and long positions were liquidated within the past day.

 

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