Coinspeaker
Ethereum Whales Initiate Massive Sell-Off amid ETH Price Volatility
Ethereum (ETH), the second-largest digital asset based on market capitalization, has been going through a series of price changes recently. In the past week, the value of ETH has seen a decline, dropping to its lowest point since February, which was $2,800. Although there was an effort from buyers to increase the price back up to around $3,200, it has once again declined and is currently trading around $3,000.
Whales Cash Out Millions in Ethereum Holdings
This price fluctuation has prompted some large investors, commonly referred to as “whales”, to initiate a substantial sell-off of their Ethereum (ETH) holdings. On-chain analysts have identified several notable transactions that highlight this trend.
According to a report that was shared on X by Spot On Chain, it was revealed that a participant in an Ethereum ICO (Initial Coin Offering) recently decided to sell 2,000 ETH and received 6 mil
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