Ethereum Whale Unloads Entire ETH Fortune Amid Price Surge

A major Ethereum whale has been selling off their tokens over the past five days, despite the asset's price surging to over $2.5K.

The whale transferred a total of $408 million worth of ETH at the beginning of the month and continued to deposit funds into exchanges throughout the period.

A recent report from Lookonchain revealed that this entity sold off all 167,855 tokens in just five days, which is an astonishing feat considering the asset's price has rebounded swiftly from its dip below $2,400.

Ethereum's dominance has increased to above 11% after the latest leg up, with its market cap rising to over $300 billion. The whale's selling spree may have provided a proper exit opportunity for some market participants who were waiting for a chance to get out.