Selling 12 million dollars of ETH spreads fears among currency holders
In the midst of a sharp selling wave, the movement of one Ethereum whale raised questions about the confidence of major investors in the currency's performance.
According to data from 'Lookonchain', this whale sold what was worth 12.11 million dollars of Ethereum, while still holding a similar amount.
This comes at a time when the currency's price has dropped to 2240 dollars.
But this whale is not the only one; about 28.9 million dollars of Ethereum was recently deposited on the Binance platform by another wallet, which reinforces expectations of further selling pressure.
The ETH currency recorded a liquidation value of 300 million dollars within 24 hours, with a daily loss of 8%, and a weekly decline of 10%.
In contrast, market focus is increasing on Bitcoin, which continued to strengthen its dominance amid the weakness of alternative cryptocurrencies, despite the ongoing flows of Ethereum ETF funds.
And despite this decline, the ETH/BTC pair remains above the 0.017 level, keeping some relative momentum against the largest cryptocurrency (Bitcoin).
