Ethereum Whale Moves $253M into Exchanges Amid Market Volatility
A whale has made a significant move in the Ethereum market, depositing $253 million worth of ETH into multiple exchanges over the past three days. This large transaction is being closely watched by traders as it can sometimes precede selling activity.
The whale's address still holds around $155.8 million worth of ETH, and the movement has sparked concerns about potential selling pressure on the price.
In other Ethereum news, a trader known as 0x89da has opened a highly leveraged long position on 18,587 ETH, worth approximately $44.85 million, after seven months of inactivity.
This high-risk bet highlights the willingness of some traders to take on significant exposure despite market volatility.
Gustavo Gonzalez, former Chief Technology Officer of Layer-2 network Taiko, has stepped down from his role and plans to co-found an AI startup. He will remain involved with Taiko as an advisor and member of its Security Council.