A dormant Ethereum whale has emerged, selling off a portion of its massive holding of 398,889 ETH acquired between January and March 2016. The whale began selling Ethereum after the cryptocurrency breached its $2,600 resistance level. So far, the whale has sold 73,356 ETH, making a profit of approximately $222.02 million. The remaining 325,533 ETH is still valued at over $1.3 billion. This move has sparked debate among Ethereum holders, with concerns that it could impact ETH's performance and potentially encourage other whales to sell, putting downward pressure on the price. However, trade enthusiasts argue that it was a wise decision to capitalize on the significant appreciation in Ethereum's value since acquisition.



Other News from Today