Scale of ETH Sell-off Amid Cryptocurrency Market Decline

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Sharp Decline in Cryptocurrency Prices
  2. ETH Sale by Metalpha
  3. Large Purchase by a Smart Whale


    4. Over the past weekend, the cryptocurrency market experienced a significant decline. Bitcoin fell to $52,500, while Ethereum dropped to $2,150.

    Sharp Decline in Cryptocurrency Prices

    Bitcoin and altcoins experienced a major drop over the weekend. The price of Bitcoin fell to $52,500, and Ethereum dropped to $2,150. This caused panic in the market, and many investors started selling their assets wildly.

    ETH Sale by Metalpha

    Metalpha, one of the leading cryptocurrency investment companies, also made a massive ETH sale. According to Lookonchain, Metalpha moved $23 million worth of ETH to Binance. An address associated with Hong Kong-based asset manager Metalpha deposited 10,000 ETH to Binance. In total, this address transferred 23,589 ETH worth $54.1 million to Binance over the last three days.

    Large Purchase by a Smart Whale

    While Metalpha continues to sell ETH, a smart whale bought 5,000 ETH worth $11.46 million in the last two days. This whale had previously bought 5,200 ETH at an average price of $1,322 in November 2022, and later sold it at an average price of $2,093 in January, December 2023, and January 2024, earning more than $4 million.

    A smart whale bought 5,000 ETH ($11.46M) at the bottom again in the past 2 days!Lookonchain

    Ethereum is trading at $2,311 at the time of writing. The cryptocurrency market remains volatile, and major players continue to have a significant impact on its movement.

Tier I

Sector: #18291

Sealed Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Analysts Predict Bitcoin Surge Could Benefit Shiba Inu

chest

Wall Street analysts predict that Bitcoin could reach 100,000 by the end of the year, which may positively impact Shiba Inu's price.

user avatarZainab Kamara

Shiba Inu SHIB Faces Price Correction After Brief Recovery

chest

Shiba Inu's price briefly reclaimed the 0000006 level but has since dipped to 0000005, indicating potential for further decline.

user avatarSon Min-ho

OpenAI Launches New Agentic Browser Feature for ChatGPT Work

chest

OpenAI has launched a new agentic browser feature in ChatGPT Work, allowing the AI to manage tasks on login-protected sites while maintaining session persistence.

user avatarAyman Ben Youssef

Surge in AI-Generated Vulnerabilities Threatens Bitcoin Security

chest

The Bitcoin Red Team reports a surge in AI-assisted vulnerability findings across Bitcoin projects, highlighting the urgency of addressing security flaws.

user avatarTando Nkube

Core Lightning Developers Issue Urgent Warning on Vulnerabilities

chest

Core Lightning developers issue critical warning to node operators about vulnerabilities in AI-generated security reports, urging prompt updates or offline operation to secure payment channels.

user avatarKofi Adjeman

Experts Warn Against Short-Term Predictions for Bitcoin Prices

chest

Experts warn against over-reliance on single-day ETF flows for predicting Bitcoin prices, emphasizing long-term trends.

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.