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Crypto

Ethereum Whale Deposits $7M Worth of Ether into Exchanges

Guavy AI Editorial Team
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A major Ethereum whale has made significant transactions on the blockchain.

The address 0xF626 received 102,913 ETH worth $248.6 million from multiple wallets approximately 11 hours ago and deposited 2,858 ETH worth $7 million into exchanges just 20 minutes ago.

This large exchange deposit may indicate distribution pressure on the Ethereum market, which could impact price prediction models.

The current price of Ethereum is $2441.67, slightly above the 50-EMA support at $2422.69 within the Bollinger band.

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