Ethereum Whale Reduces Holdings by 10,000 ETH in Profit Move
- Main event, leadership changes, market impact, financial shifts, or expert insights.
- Whale sells 10,000 ETH, retains 35,000.
- Reduced selling pressure may soon affect ETH.
Whale sold 10,000 ETH worth $32.97 million through Wintermute five hours ago. The prominent Ethereum holder retains a balance of 35,000 ETH.
Immediate market reactions indicate anticipation of diminished selling pressure from the whale’s reduced holdings. Increased ETH selling has caused short-term market effects, but analysts expect stabilization.
The major Ethereum whale, tracked by on-chain analyst @EmberCN, sold another 10,000 ETH through Wintermute, bringing continued profit-taking into focus. This action signifies the third trading phase since the whale’s substantial accumulation.
The entity recently sold another 10,000 ETH, valued at approximately $32.97 million, through the trading firm Wintermute. This activity is part of the third phase of their swing trading, which began with the accumulation of 132,000 ETH at an average price of $2,540 between June 11 and June 22. – @EmberCN, On-Chain Analyst
The whale initially bought 132,000 ETH at an average of $2,540, marking a series of strategic trades. Wintermute, the OTC trading firm used, is notable for facilitating large-volume trades.
Ethereum is primarily impacted by the sale, potentially causing short-term volatility in the market. However, community analysts predict market effects may taper off as the whale’s holdings are reduced.
Regulators and market participants have monitored whale behavior, but no direct intervention is noted. The market’s liquidity and potential yield pool adjustments in DeFi could follow the ETH price movement.
Trade history indicates that large Ethereum holders, like Trend Research, engaged in similar market activities. Historical patterns suggest such events create temporary price pressure but usually resolve without long-term market instability.
