Whale transfers $154M in ETH to exchanges amid market volatility, fueling speculation of a potential sell-off as investor confidence rises.
Among these, a whale, who initially acquired 1 million ETH during the Ethereum ICO at a price of $0.31, has drawn attention.This transaction followed a series of large deposits over the past month, totaling 48,500 ETH, worth around $154 million, at an average price of $3,176.
The whale’s continuous transfer of large amounts of ETH to exchanges has sparked discussions about a potential sell-off.This movement added to the speculation that large holders may be preparing to offload their assets, especially in a market environment that has seen volatility in recent days.at press time, reflecting a 3.32% decline in the last 24 hours but an 11.74% increase over the past week.The Relative Strength Index was 38.
The MACD line was slightly below the signal line, with the histogram showing smaller red bars, suggesting a potential bullish crossover.Active addresses within this period reached 299,749, with 64,793 new addresses and 1 million transactions, indicating ongoing robust network activity.by AMBCrypto pointed to a neutral sentiment in the Ethereum market, with the Fear and Greed Index logging a score of 38, up from extreme fear levels a week ago.
This shift in sentiment suggested growing investor confidence, which may support ETH in testing and potentially breaking the $2,800 resistance level.Olivia Stephanie is a FinTech enthusiast with a keen understanding of financial markets. Her passion for economics and finance has led her to explore emerging blockchain technology and cryptocurrency markets.Subscribe to get it daily in your inbox.
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