Ethereum Whale Unloads $408M Position Despite Strong Price

A significant Ethereum whale sold off its entire position of 167,855 ETH worth approximately $408 million over five days. Despite this large sale, the price of Ethereum remained strong above $2,500 and even gained 4.3% in 24 hours.

This move comes amidst mixed signals from big investors. Invesco ETF clients have continued to accumulate ETH, adding around $167 million since March, while Abraxas Capital bought 16,554 ETH worth nearly $40 million while maintaining large short positions.

A suspected exploit involving Notional Finance also made headlines, with stolen funds converted into ETH. This incident highlights the diverse strategies employed by large holders as Ethereum's market cap remains above $306 billion.