Ethereum Drops to $4,200 as Institutions & Whales Offload Thousands of ETH 🐋📉
Ethereum (ETH) slid to around $4,200 (-1.32% in 24h) as heavy sell pressure emerged from institutional profit-taking and a major whale’s return to the market.
🔹 Longling Capital sold 5,000 ETH worth $21.56M to lock in profits. Over the past two years, they withdrew 123,405 ETH from Binance at an average price of $2,349, later depositing back 70,800 ETH at $3,502, securing an estimated $184M in profits.
🔹 A dormant whale wallet (0x7378…) also resurfaced after nearly a year of inactivity, selling 3,075 ETH worth $13.25M at $4,310. The address still holds 15,708 ETH (~$67.5M).
These large-scale sell-offs have added pressure to ETH’s price action, leaving the market on edge as traders await the next move from big players that could shape Ethereum’s trend.
Will whales trigger deeper corrections, or will dip buyers step in? 🤔
⚠️ Disclaimer: Not Financial Advice (NFA). Always Do Your Own Research (DYOR).
