- Ethereum Foundation Sale
- Jump Trading Sale
- Whales' Sales
In August, Ethereum (ETH) faced a significant price drop. Below are the four main events that contributed to this decline.
Ethereum Foundation Sale
The first event was the sale of 35,400 ETH worth $94 million by the Ethereum Foundation. On August 23, the Ethereum Foundation transferred 35,000 ETH to Kraken. Five days later, the ETH price dropped by 9%.
Jump Trading Sale
The second event was the sale of 88,900 ETH by one of the popular market makers, Jump Trading. Between July 25 and August 6, Jump Trading transferred 88,917 ETH to various centralized exchanges. On August 5, the ETH price dropped by 20%.
Whales' Sales
The third event was the sale of 48,500 ETH by an ICO-related whale. The whale transferred 48,500 ETH to OKX since July 9. The fourth event was the sale of 25,000 ETH by another whale, who twice transferred this amount to Kraken since July 25. Both events preceded significant price declines in ETH.
These four events significantly impacted Ethereum's drop in August, leading to a total sale of 197,800 ETH worth $599 million.
