Ethereum Whales Sell Assets Amid Market Turbulence and Profit Taking

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Market Turbulence and Whale Sell-offs
  2. Changes in Whale Holdings Structures
  3. Addition of New Tokens to the Ethereum Network


    4. Recent market turbulence spurred some Ethereum (ETH) whales to sell their holdings to lock in gains or cover loans. Large-scale transaction data showed thousands of ETH moved to centralized exchanges or for loan coverage.

    Market Turbulence and Whale Sell-offs

    Amber Group was one of the significant sellers this week, offloading 6,443 ETH. This move added to the overall downward price action. Whale sell-offs began after a nine-day streak of outflows from some of the largest Ethereum ETFs. These sell-offs resulted from Grayscale shedding its tokens while other funds showed slower demand.

    Changes in Whale Holdings Structures

    Even previously successful whales faced losses at the $2,400 level, liquidating their assets. One such whale deposited 8,825 ETH to Binance, leaving behind 10,619 ETH with an estimated total loss of $15.7M. Whales also started moving out of staked ETH positions to sell assets on major exchanges.

    Addition of New Tokens to the Ethereum Network

    New token production is among the biggest sources of net ETH inflows. Over the past week, the network produced 16,872 ETH, retaining most tokens due to a slower burn rate. Activity shifted from the Ethereum main net to several L2 chains, resulting in a lower burn rate.

    Despite the selling pressure and market volatility, Ethereum continues to recover, maintaining much of its value. However, in the short term, profit-taking by whales might reduce the momentum for further growth.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Richard Heart Detained in Istanbul Linked to Finnish Tax Investigation

Richard Heart, founder of HEX and PulseChain, has been detained by Turkish authorities in connection with a Finnish tax investigation.

user avatarJacob Williams

TD Cowen Increases Strive's Share Price Target Amid Bitcoin Holdings Surge

TD Cowen analysts raised Strive's share price target from 44 to 56 due to significant expansion of Bitcoin holdings to 35,595 BTC, noted in a research update on October 16.

user avatarZainab Kamara

Tether Invests in AI Infrastructure Startup AIsa

Tether has invested in AI infrastructure startup AIsa, contributing to its total funding of over $9 million to support autonomous AI applications.

user avatarSon Min-ho

Taiwan Restricts Access to Coinbase and Kalshi Ahead of Elections

Taiwanese authorities have restricted access to Coinbase and Kalshi websites due to concerns over election betting.

user avatarTando Nkube

Strategy Proposes Daily Dividends for STRC Preferred Stock

Strategy has conditionally declared daily dividends for its STRC preferred stock for November 2026, pending shareholder approval.

user avatarKofi Adjeman

Ripple Prime Expands Institutional Trading with New Derivatives Access

Ripple Prime introduces access to perpetual derivatives referencing traditional assets for eligible institutional clients.

user avatarNguyen Van Long

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.