Ethereum Whales Unload Over $63 Million in ETH Sales
Two significant Ethereum whales have sold off substantial amounts of ETH in recent days, sparking concerns about selling pressure and potential market implications.
The first whale, known as 7 Siblings, sold 14,000 ETH for $32.85 million at an average price of $2,346. This entity has a long history of buying during downturns and selling in large transactions, suggesting that this move was likely profit-taking rather than a bearish signal.
A second whale, identified as 0xFD10, sold 11,252 stETH for $26.5 million and an additional 1,824 ETH for $4.26 million, bringing the combined proceeds to $30.78 million USDT. Unlike 7 Siblings, the motive behind this entity's exit remains unclear.
The sales come as Ethereum continues to trade near $2,350, a significant surge from just hours earlier when it traded at $2,286.60. The average sale price cited in both wallets' transactions stood between $2,334 and $2,354 per coin.