Over the past ten hours, a significant Ethereum investor sold 23,924 ETH at an average price of approximately $1,888.71 per coin, totaling around $45.18 million. The sale occurred through two main transactions. The first involved 19,000 ETH acquired about two years ago at roughly $357 per ETH in 2017. The second transaction included 7,038 ETH withdrawn from an exchange between December 2023 and April 2024, with an average price of $2,709.43 per ETH. Ethereum, the second-largest cryptocurrency after Bitcoin, operates on blockchain technology and is widely used for decentralized applications and smart contracts. Movements by large holders can significantly impact the market, as selling such a substantial amount increases supply and may lead to price declines. This sale is notable because the investor purchased Ethereum at different times, reflecting investment across various market phases. Considering current market conditions and global economic fluctuations, this large sale could represent a strategy to either capitalize on profits or anticipate potential price drops. Although large sales often introduce uncertainty, Ethereum’s strong fundamentals and extensive usage suggest the possibility of stable price growth. Investors and analysts are now closely watching whether Ethereum’s price will rise or fall in the coming days and if major holders will continue selling or begin buying.
Source: binance
