Ethereum whales have begun selling significant amounts of ETH, with a recent transaction involving a dormant whale depositing 15,000 ETH, valued at approximately $30.97 million, to Coinbase. This move follows a period of aggressive accumulation and comes as Ethereum's price hovers around $2,100. The whale, an early participant in Ethereum's ICO, still retains 14,800 ETH worth about $30.5 million.
Another large-scale sell-off was reported by Lookonchain, where an "EthereumOG" sold 15,002 ETH on March 23. These transactions have raised concerns about potential downward pressure on Ethereum's price, which has already seen a 5% decline over the past week. The increased selling activity by whales could push ETH below the $2,000 mark if the trend continues.
Ethereum Whales Offload $30M ETH Amid Market Volatility
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