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Crypto

Ethereum Whales Unload $33M in ETH Amid Strong Demand

Guavy AI Editorial Team
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ETH
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Ethereum whales intensified profit-taking following a 20% rally over two days. According to Lookonchain, seven siblings sold 14,000 ETH worth $32.85 million at an average price of $2,346.

The transactions coincided with Ethereum's sharp rise and were likely due to the large holders taking profits. However, the selling pressure was met by strong market demand, with aggressive spot buying activity observed.

Buyers continued to absorb available ETH supply despite whales offloading large amounts of Ethereum. The 90-day Spot Taker CVD remained taker-buy dominant, indicating more buying activity than selling in the market.

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