Ethereum Whale Sells Off Tokens as Price Rockets Past $2.5K

The Ethereum market has experienced significant growth in recent days, with its price surging past $2.5K. According to data, the altcoin's dominance has increased to above 11% after this latest leg up.

Despite a major whale disposing of their ETH tokens over the past five days, the underlying asset has rebounded swiftly from its dip below $2,400. The whale in question has sold off all 167,855 tokens ($408 million) since the start of the month, but this substantial sell-off has not had a lasting impact on the market.

The Ethereum price is now up by more than 4% daily and sits above $2,500 with a market cap of $305 billion. This growth has led to an increase in the whale's selling activity, as some market participants have used this opportunity to exit their positions.