47 million ETH suddenly sold off by a giant whale, why didn’t the market even make a splash?
On-chain monitoring platform Arkham just revealed explosive news, the giant whale 7 Siblings transferred 47 million dollars worth of $ETH to a new wallet and then crazily dumped 17.2 million within 7 minutes! But strangely, the ETH price only dropped by 0.33% that day!
This situation implies two things: first, why is the giant whale in such a hurry to exit in batches? Do they think ETH has peaked, or do they lack confidence in the future market? Second, why is the market so calm? Either someone is quietly picking up the shares, or retail investors are numb to the movements of large funds.
However, retail investors should be cautious; whales often have insider information, and if reducing positions in batches becomes a trend, ETH might need to take a breather in the short term. Don’t be fooled by the small drop now; if continued selling pressure combines with negative news, be careful not to be boiled like a frog in warm water!
For the upcoming market, I will prepare for something big; those who believe need not say much, just come if you agree.
