Mystery Whale Dumps $408 Million ETH Stack, Ether Price Holds Firm

A mysterious Ethereum whale dumped its massive $408 million stack of ETH over a five-day period in late August and early September, but surprisingly, the price of Ether (ETH) has remained firm.

The whale, whose identity remains unknown, deposited 167,855 ETH across multiple exchanges between August 30th and September 4th. At the time, Ether traded near $2,520, with spot ETH ETFs adding $141 million on September 3rd.

Despite the massive sale, Ether's price has climbed slightly over the past 24 hours, trading at around $2,453 per unit. This is a notable development given that such a large amount of supply was added to the market in a compressed window.