Whale Continues To Dump ETH Amidst Gloomy Market Sentiment, Can Ethereum Rise Against the Tide?According to recent monitoring by on-chain data analyst, Yu Jin, a whale holding 150,000 ETH has once again transferred 5,000 ETH (approximately $12.22 million) to the Kraken exchange
Whale Continues To Dump ETH Amidst Gloomy Market Sentiment, Can Ethereum Rise Against the Tide?
According to recent monitoring by on-chain data analyst, Yu Jin, a whale holding 150,000 ETH has once again transferred 5,000 ETH (approximately $12.22 million) to the Kraken exchange. This is a continuation of the whale's consistent ETH divestment since 2019, with over 60,000 ETH (approximately $149.68 million) sold cumulatively. Their historical sales record is as follows:
- July 2019: Sold 5,000 ETH (approximately $1.09 million) at a price of $218.
- June 2024: Sold 10,000 ETH (approximately $35.39 million) at a price of $3,539.
- September to October 2024: Sold 45,000 ETH (approximately $113.2 million) at a price of $2,516.
It's clear that June of this year saw the largest amount of ETH sold by this whale. Currently, their ETH holdings have dwindled to 94,540 (approximately $230 million), including 4,540 ETH earned from staking platforms like Lido and RocketPool. The future impact of this whale continuing to sell on market investor confidence remains to be seen.
Meanwhile, Yu Jin has also noted an address with an exceptionally high win rate in Ethereum swing trading. Since engaging in swing trading in April of this year, this mysterious whale has executed 10 rounds of ETH swing trades, achieving an impressive 9 wins and 1 loss. As of now, this address has not made any sales.
It's important to note that after briefly surpassing $2,500, Ethereum has retraced, and Bitcoin also fell back after breaking through $64,000 yesterday. Against the backdrop of continuous whale ETH sales in recent times, Ethereum investor sentiment is extremely low. Whether these big players will complete their phased sales and whether Ethereum market sentiment will show signs of recovery remains to be seen.
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