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Crypto

Ethereum Whale Unloads $87M into Exchanges Amid Price Frenzy

Guavy AI Editorial Team
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ETH
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A large Ethereum whale has made significant deposits into exchanges, sparking interest among traders and analysts.

The entity, tied to a single address, deposited 33,180.48 ETH worth approximately $86.93 million into exchanges at an average price of $2620 per token just five hours ago.

This influx of capital is notable given that the whale acquired these tokens from Bitfinex in November 2023 at an average price of $2002.75.

Pricing action on the 4-hour chart shows Ethereum trading near its upper resistance of $2652.49, with an overbought reading from the RSI(14) indicator and a bullish golden cross from the MACD.

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