Whale Activity And Market Declines Drive Ethereum Volatility
The post Whale Activity And Market Declines Drive Ethereum Volatility appeared on BitcoinEthereumNews.com.
The recent dip in Ethereum’s price has prompted significant movements among crypto whales, as some have resorted to selling $ETH to cover debts. In the past two days, a single whale deposited a total of 31,968 $ETH (valued at $122.3 million) to Binance, with 22,746 $ETH ($77.7 million) moved in the last five hours alone. The funds were exchanged for stablecoins to repay loans on platforms like Spark and Aave. The recent price drop forced whales to sell $ETH to repay debts. A whale deposited 22,746 $ETH($77.7M) to #Binance in the past 5 hours and withdrew stablecoins from #Binance to repay debts on #Spark and #Aave. And this whale has deposited a total of 31,968 $ETH($122.3M) to… pic.twitter.com/vhw9J1KTkP — Lookonchain (@lookonchain) December 20, 2024 The Ethereum Foundation also made headlines after its timely sale of 100 $ETH on December 17. This transaction coincided with a 17% drop in $ETH’s price, marking yet another well-timed top sale. Over the past year, the foundation has sold 4,466 $ETH ($12.6 million) across 32 trades, with nearly half executed at market peaks. Since the #EthereumFoundation sold 100 $ETH on Dec 17, the price of $ETH has dropped by ~17%, marking another successful top sale. Over the past year, #EthereumFoundation has sold 4,466 $ETH($12.6M) across 32 trades, with 15 of them executed at the top(marked in red in the… pic.twitter.com/DA7nGAgbxr — Lookonchain (@lookonchain) December 20, 2024 As prices fell, the losses extended to other prominent traders. Trump’s World Liberty (@worldlibertyfi) recorded a $6.15 million loss on its recent acquisitions, primarily driven by a $4.86 million hit from $ETH. As the market declined, #Trump‘s World Liberty’s recent purchases of $ETH, $WBTC, $AAVE, $LINK, $ENA, and $ONDO fell into the red, with a total loss of $6.15M. The biggest loss came from $ETH, totaling $4.86M.https://t.co/aOEC9OCBT1 pic.twitter.com/4SL29JpFFj —…
Filed under: News - @ December 21, 2024 1:18 pm