• 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

Defense Secretary Hegseth Authorizes Firearms for Off-Duty Service Members

chest

On April 2, Secretary of Defense Pete Hegseth signed a memo reversing a 34-year Pentagon policy, allowing off-duty US service members to carry privately owned firearms on military installations.

user avatarMaya Lundqvist

Anthropic Acquires Coefficient Bio for $400 Million

chest

Anthropic has acquired biotech AI startup Coefficient Bio for $400 million, marking a strategic expansion into the healthcare sector.

user avatarLeo van der Veen

Cathie Wood Sees Bitcoin's Decline as a Sign of Maturation

chest

Cathie Wood argues that Bitcoin's decline from its all-time high is a sign of market maturation rather than weakness.

user avatarTenzin Dorje

Public Companies Sell Bitcoin Holdings to Manage Liquidity

chest

Several public companies and sovereign entities are selling their Bitcoin holdings to manage liquidity and fund strategic pivots.

user avatarAisha Farooq

Centrifuge Launches deSPXA Tokenized Asset for Non-US Users

chest

Centrifuge has launched deSPXA, a tokenized asset for non-US users to trade and hold exposure to the Anemoy S&P 500 Index Fund on a permissionless blockchain.

user avatarLi Weicheng

Trump Administration Proposes Record $15 Trillion Defense Budget

chest

On April 3, 2023, the Trump administration proposed a historic defense budget of $15 trillion, marking a 42% increase in Pentagon spending while cutting domestic programs.

user avatarBayarjavkhlan Ganbaatar

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.