$BTC

✍️ Selling 12 million dollars worth of ETH spreads fears among holders of the currency

Selling 12 million dollars worth of ETH spreads fears among holders of the currency Selling 12 million dollars worth of ETH spreads fears among holders of the currency

Amid a sharp selling wave, the movement of one of the Ethereum whales raised questions about the confidence of major investors in the performance of the currency.

According to data from "Lookonchain", this whale sold approximately 12.11 million dollars worth of Ethereum, while still holding a similar amount.

This comes at a time when the price of the currency has dropped to 2240 dollars.

But this whale is not the only one; about 28.9 million dollars worth of Ethereum was recently deposited on the Binance platform by another wallet, reinforcing expectations of more selling pressure.

The ETH currency recorded liquidations worth 300 million dollars within 24 hours, with a daily loss of 8%, and a weekly decline of 10%.

In contrast, the market's focus on Bitcoin is increasing, which continued to strengthen its dominance amid weakness in alternative cryptocurrencies, despite the ongoing flows of Ethereum ETF funds.

Despite this decline, the ETH/BTC pair remains above the 0.017 level, keeping some relative momentum against the largest cryptocurrency (Bitcoin).