CandleFocus Ethereum Whales Offload $53M in ETH as Price Surges Past $2,600
2024-09-26
Author: Content Editor
Two major Ethereum holders have sold a significant amount of ETH, totaling 20,610 ETH and valued at approximately $53.6 million. These transactions have raised concerns in the cryptocurrency community, as they coincide with Ethereum's recent price rally. One of the sellers, with the wallet address 0x999, offloaded 12,100 ETH worth around $31.45 million, following a previous payout as part of a bankruptcy distribution. The other seller, wallet 0xb8c, transferred 8,400 ETH to Kraken after three months of inactivity. Both wallets still hold substantial amounts of ETH. The combined sale has sparked concerns of potential selling pressure, although Ethereum's price has not been affected so far. Market observers are cautious, as further selling from these large holders could introduce volatility in the near term.
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