A naukri.com initiative
Cryptonews
3w
426
Dormant Ethereum Whale Awakens, Sells $5.2M After Nearly a Decade
- An Ethereum whale that had been dormant for nearly a decade sold over 2,000 ETH, amounting to US$5.2M.
- The whale saw an impressive return of 8,367x on their original investment of US$622.
- Another long-dormant wallet sold 500 ETH, worth US$1.29M, after being inactive for two years.
- ETH exchange reserves have declined from 30M in 2022 to 18.6M, indicating a shift towards cold storage and staking.
- Ethereum is currently trading around US$2.5k, experiencing a 2.5% decrease in the last 24 hours and over 10% in the last seven days.
- The drop in Ethereum reserves on exchanges suggests investors are moving capital off trading platforms.
- June has seen multiple days with outflows exceeding US$200M, while inflows remain sporadic.
- The market has witnessed a trend of long-inactive Ethereum whales waking up and selling significant amounts of ETH.
- There are speculations about the reasons behind these whale movements.
- Increased tensions in the Middle East and global economic uncertainty have impacted both Ethereum and Bitcoin's prices.
- The crypto market remains dynamic with significant movements in both inflows and outflows of Ethereum.
- The volatility in the crypto market is influenced by various geopolitical and economic factors.
- The declining reserves on exchanges suggest a strategic shift among investors in how they manage their Ethereum holdings.
- The reactivation of dormant Ethereum whales highlights the varied behaviors within the crypto ecosystem.
- CryptoQuant data supports the trend of declining Ethereum reserves on exchanges and an uptick in off-exchange storage options.
- The article touches upon the movements of whales in the crypto space and the impact on the Ethereum market.
Read Full Article
25 Likes
For uninterrupted reading, download the app