In July 2024, large ETH whales conducted large volume sales of ETH worth hundreds of millions of USD on-chain.
The ETH whale with a holding of up to 1 million ETH has continuously sold hundreds of thousands of ETH, reflecting a notable portfolio adjustment strategy in July 2024.
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The ETH whale sold 1,000 ETH in the past 8 hours worth 2.61 million USD.
The total amount of ETH sold since the beginning of July is 358,600 ETH, equivalent to 897 million USD.
Currently, the whale still holds nearly 23,620 ETH worth about 61.56 million USD.
Who is the ETH whale holding 1 million ETH and how much have they sold?
The ETH whale known for holding up to 1 million ETH has sold 358,600 ETH since the beginning of July 2024, equivalent to 897 million USD.
This is a rare large amount of ETH in the market, indicating an asset management strategy focused on portfolio balancing to cope with cryptocurrency market volatility. Selling 1,000 ETH worth 2.61 million USD within 8 hours is a quick adjustment, with data from on-chain analyst @ai_9684xtpa showing they purchased earlier at a low price of just 0.31 USD per ETH, creating a massive profit margin.
Why is the amount of ETH sold by this whale particularly important?
Selling more than 358,000 ETH in a short period has a significant impact on liquidity and the price of ETH in the market.
This whale not only holds ETH but also has a significant influence on trading trends and investor sentiment. According to the 2024 cryptocurrency financial industry report, whales play a key role in creating volatility in the market when interacting with large orders. The flow of sold ETH will directly affect prices and on-chain metrics such as trading volume and average gas fees.
Large trades from ETH whales are often a significant strategic signal, affecting market leadership and prompting investors to adjust their positions.
Tran Van Hung, cryptocurrency analyst, 2024
How much ETH does this whale still hold and what is its current value?
Although they have sold a large volume, this whale still holds about 23,619 ETH, worth 61.56 million USD at current market prices.
This amount of ETH still ensures a strong position in the Ethereum ecosystem, as the holding value remains among the largest in the world. Maintaining a large Token capacity allows the whale to control liquidity and participate in new opportunities as the market fluctuates.
Comparison table of ETH sold and held by the whale
Index Quantity of ETH Estimated Value (USD) ETH sold since July 2024 358,599.97 ETH 897 million USD Current ETH held 23,619 ETH 61.56 million USD Average purchase price of ETH ~0.31 USD/ETH —
Frequently asked questions
What is an ETH whale and why are they important in the cryptocurrency market?
ETH whales are wallets holding large amounts of ETH, impacting price volatility and liquidity in the cryptocurrency market due to their trading scale.
What impact does the amount of ETH sold have on the current market price?
Large volume trades from whales often create significant supply pressure, causing price volatility and affecting investor sentiment.
At what price do whales usually buy ETH to achieve high profits?
Many whales buy ETH at very low prices like 0.31 USD/ETH to maximize profits when selling.
Why do whales hold a significant amount of ETH after selling a lot?
Holding ETH allows whales to maintain market control and seize the next investment opportunity when prices fluctuate.
How to track the actions of ETH whales on-chain?
Tracking relies on on-chain analysis and transaction monitoring tools such as wallet addresses and large trading volumes.
Source: https://tintucbitcoin.com/ca-voi-eth-co-dai-ban-1-000-eth/
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