The price of Ethereum (ETH) is facing pressure, leading to increased selling by ETH whales. A whale recently sold 1,521 ETH for $4.95 million DAI in a single transaction and subsequently sold 2,154 ETH for $7.05 million DAI through a newly created wallet. This activity suggests that Ether whales are bearish on the cryptocurrency. Traders are selling volatile coins like ETH to seek safety in dollar-tied stablecoins. The price of Ethereum has been stagnant in a narrow range due to various challenges within the ecosystem, including ongoing token sales by the Ethereum Foundation. However, the introduction of Ether ETFs could potentially drive up prices and decrease volatility. Currently, ETH whales are increasingly selling their holdings, indicating the possibility of further price declines.



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