A recent liquidation by a major investor of 76,000 ETH has stirred discussions in the crypto community, coinciding with BlackRock's increased investments in Ethereum.
The Selling Ethereum Whale
A significant investor, known as a whale, sold all of their holdings in Ethereum, which was acquired during the 2015 ICO. The full liquidation occurred just 30 minutes before news reports, drawing attention to the transaction. After selling, the whale transferred 2,000 ETH to the Kraken exchange, currently valued at approximately $3.66 million.
BlackRock's Investments in Ethereum
On the same day, BlackRock, the world's largest asset manager, reportedly added 10,955 ETH to its ETF, worth about $20.1 million. This adds to the company's previous investment in Ethereum of $54 million. Recently, BlackRock also invested around $674.91 million into Bitcoin-related ETFs.
Ethereum Market Dynamics
Despite these events, Ethereum's price barely reacted and continues to trade around $1,827. The price had tried to rise above $1,872 but fell back to $1,813, which now appears to be short-term support. If the price remains above this level, the next target could be $1,925, but if it drops below $1,813, attention will shift towards the April 30 low at $1,732.
While the whale's sale and BlackRock's investment raises interest, the Ethereum market remains uncertain, with potential fluctuations in the near future.
