• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Scale of ETH Sell-off Amid Cryptocurrency Market Decline

user avatar

by Giorgi Kostiuk

2 years ago

  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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Three Reasons Why RLUSD Cannot Replace XRP, According to Shah

chest

Three reasons why RLUSD cannot serve as a universal routing asset like XRP, according to Sagar Shah.

user avatarEmily Carter

Shah Explains the Distinction Between RLUSD and XRP Using a Playground Analogy

chest

Shah uses a playground trading analogy to illustrate the different roles of RLUSD and XRP in facilitating trades.

user avatarLucas Weissmann

Evernorth's Sagar Shah Clarifies Roles of RLUSD and XRP

chest

Sagar Shah, Chief Business Officer of Evernorth, clarifies that RLUSD is a digital dollar while XRP serves as a neutral routing asset for cross-asset settlement.

user avatarFilippo Romano

Hyperliquid Overtakes Solana in Market Valuation

chest

Hyperliquid has recently surpassed Solana in fully diluted valuation, highlighting the rise of revenue-generating chains in the cryptocurrency market.

user avatarTomas Novak

Qivalis Consortium Secures Support for Europe-Pegged Stablecoin Initiative

chest

The Qivalis consortium has secured support from 37 European banks for a Europe-pegged stablecoin initiative to enhance the competitiveness of Europe's digital assets market.

user avatarKaterina Papadopoulou

European Commission Initiates Consultation on Crypto Regulation

chest

The European Commission has launched a consultation to review the EU's regulatory framework on crypto assets, known as the Markets in CryptoAssets Regulation (MiCA), to gather feedback from stakeholders and the public.

user avatarMaya Lundqvist

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.