Ethereum investors worry as a whale sells off ETH. Will the price drop to $1,200? Get live updates on digital currency prices.
An Ethereum whale has sold all their ETH after two years, causing short-term price concerns. The whale recently sold 10,000 ETH worth $15.71 million. Despite ETH surpassing $4,000 twice in 2024, the whale sold their assets before the steep price drop to around $1,400, seen as a sign of capitulation. Additionally, World Liberty Financial (WLF), a major Ethereum market player, has also faced substantial losses. Alongside whale sales, Ethereum network activity has significantly decreased due to low fees, high inflation rates, token burn rate decline, and reduced active addresses, all contributing to selling pressure in the market.
