Ethereum Whale Offloads Half of ETH Position Amid Price Surge
An Ethereum whale has offloaded half of its ETH position on Binance after just one month. The wallet, tracked by Arkham Intelligence, purchased 10,501 ETH at $1,904 last month for a total of $20 million.
This sale represents more than half the initial purchase and valued at around $11.7 million, locking in a profit of $3.4 million due to the recent surge in Ethereum's price.
The current price action on the 4-hour chart shows ETH trading above the upper Bollinger Band resistance at $2,191.56 with an RSI(14) reading of 92.94 indicating overbought conditions.