After a strong rally, Ethereum (ETH) gains have come to a halt as the crypto extended losses on Friday, December 29, 2023. The bullish run on Thursday propelled the Ethereum price over the $2,445 mark, which was a significant milestone. However, the surge was short-lived as the crypto dropped to about $2,350 at press time.
The decline could have been initiated due to massive whale transfers as they aim to lock in profits from the recent price rally. In the last 24 hours, whales dumped more than $136 million worth of ETH into various crypto exchanges.
Ethereum Whale Transfers Exceed $136 million
According to recent posts by Whale Alert on X, three major Ethereum whale transactions were recorded after the recent price surge. A total of $136.18 million worth of ETH was dumped by whales. The latest transaction, recorded about four hours ago, involves a shift of 10,000 ETH from an unknown wallet to Gate.io. The transfer amounted to $23.26 million.
Whilst, in another notable transaction, 14,
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