Ethereum Whale Moves $100M to Exchanges Amid Price Speculation
A significant Ethereum whale has deposited 40,881 ETH worth around $100.7 million into exchanges over two days, sparking concerns about potential selling pressure on the cryptocurrency's recent recovery. The transfer comes as Ethereum trades around $2,430-$2,450.
The address in question had reportedly accumulated 51,387 ETH worth approximately $125.9 million and still held around 10,506 ETH after the transfers. While a deposit alone does not guarantee that the assets will be liquidated, it introduces another source of potential supply while Ethereum is dealing with wider macro pressure.
Despite this short-term uncertainty, analysts remain bullish on Ethereum's long-term prospects, citing a possible path to $5,000 if the cryptocurrency can clear major resistance zones. A recent seven-day period saw more than 180,000 ETH leave exchanges, and the number of addresses holding over 10,000 ETH increased.