Ethereum Whale Moves $14.5M, Fueling Concerns Over Potential Sell-Off
- Ethereum ICO whale movd 4,160 ETH ($14.5M) to Krkn, sprking frs of potntil sll-off.
- Th whale, holding 7,043 ETH ($24.6M), oftn slls t mrkt pks, impcting its pric trnds.
- Ethereum trds t $3,427, with nlysts ying $3,523 rsistnc; filur risks drop to $3,096.
An Ethereum ICO whale rcntly movd mssiv mount of cryptocurrncy, stirring spcultions within th crypto community. On Dcmbr 25, trnsction involving 4,160 ETH, vlud t $14.5 million, ws snt to th Krkn xchng. This shift hs fuld concrns bout potntil sll-off tht could impct Ethers pric trjctory.
Th trnsfr occurrd t 21:20 UTC btwn two wllts, with th snding wllt idntifid s 0x55df nd th rcipint s 0x54d6, Krkn dposit ddrss. Th snding ddrss hs bn tid to n rly prticipnt in Ethereums 2015 initil coin offring (ICO), during which th invstor rcivd 20,000 ETH for just $6,200 t rt of $0.31 pr coin.
Whale Selling Sparks Market Concerns
SpotOnChain, blockchin nlytics pltform, highlightd tht this wllt hs history of strtgiclly slling Ethereum during locl mrkt pks. For instnc, whn it rchd $4,000 on Dcmbr 4, th whale sold 2,719 ETH, vlud t $10.1 million t th tim. Similr sls wr obsrvd on Octobr 31 nd Sptmbr 28, whn th wllt offlodd combind 60 ETH worth $158,000.
Dspit th rcnt trnsfr, th whale still rtins 7,043 ETH, vlud t $24.6 million, which rmins stkd for yild rwrds. This bhvior rflcts pttrn of cutious profit-tking whil mintining significnt Ether rsrv. Such ctions oftn signl th whales nticiption of furthr mrkt corrctions, prompting dbts bout th ssts nr-trm outlook.
Whale Transfers Affect Ethereum Prices
Ethereums mrkt bhvior hs sn fluctutions du to spordic whale ctivity. Btwn Sptmbr nd Octobr, Ether whales collctivly movd millions, including notbl two-wk priod in Octobr whr on wllt offlodd 19,000 ETH worth $31.6 million. Anothr ICO prticipnt movd 5,000 ETH to Krkn, gnrting skpticism bout potntil pric prssurs.
Currntly, Ether is trding t $3,427, rflcting 1.58% dclin in th lst 24 hours, longsid trding volum drop of 16.22% to $18.17 billion. Anlysts r closly monitoring th $3,523 rsistnc lvl, which is criticl for its short-trm pric movmnts. Brking this lvl could propl th pric towrd $3,763 nd possibly byond $4,100.
On th flip sid, filur to brch $3,523 might ld to rtst of th $3,256 support lvl. If this support fils, Ether could fc dditionl slling prssur, potntilly driving th pric to $3,096. Ths movmnts undrscor th voltility nd hightnd snsitivity of th mrkt to whale ctivity.
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Read more: https://www.tronweekly.com/ethereum-ico-whale-mov%d0%b5d-4160-eth-to-kr%d0%b0k%d0%b5n/
Text source: TronWeekly
