In a riveting turn of events, following Ethereum’s most recent price correction witnessed within the broader crypto market, numerous traders appear to be offloading colossal amounts of ETH tokens. According to insights offered by the on-chain tracker Spotonchain, nearly 32.5K ETH was deposited to CEXs in the past 24 hrs, piquing significant attention.
This phenomenon birthed a tsunami of speculations on ETH’s price action ahead, as bearish market sentiments on the altcoin persist since it dipped remarkably following the recent topping of the $4k mark. Meanwhile, Ethereum’s market dynamics further showcased a bearish market trend for prevailing the token, curating inferences over a potential drop below the $3K mark ahead.
32.5K ETH Offloaded To CEXs
According to SpotOnChain’s data, three long-term traders deposited 32,527 ETH, worth $109 million, to CEXs in the past 24 hours. Aligning with this, the trader 0x213 deposited 12,500 ETH, worth $41.7 million, to Kraken. Whereas, the
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