Ethereum Whales Sell Over $40 Million in ETH Amid Market Decline

In Brief

Two large Ethereum holders sold or moved over $40 million in ETH in the past two days.

The transactions suggest increased sell pressure, coinciding with Ethereum’s recent price drop.

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According to on-chain data from Lookonchain, two major Ethereum (ETH) whale addresses have offloaded or prepared to sell tens of millions of dollars worth of ETH, adding to the ongoing market volatility.

One address, 0xc725…839d, sold 8,074 ETH (approximately $19.63 million) at an average price of $2,431 just 12 hours ago. Meanwhile, another whale, 0x07Fe…A26D, deposited 10,000 ETH (around $23.44 million) to Binance over the past two days, likely in preparation for selling.

These large transactions have coincided with Ethereum’s 7.73% decline in the past 24 hours, raising concerns over further downward pressure. Traders are closely watching whale activity and market support levels for potential recovery signals.

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