Whale Dump Sparks Market Concern
Blockchain monitoring platforms have detected a significant ETH sell-off by a well-known swing trader address. Over the past three days, the address offloaded 5,500 ETH at an average price of $2,912, totaling $16.02 million in transactions.
Transaction Details Analysis
Interestingly, this address had previously purchased 2,000 ETH five days earlier at $2,984 per ETH, representing a $5.97 million investment. This selling activity suggests the trader successfully capitalized on short-term volatility.
Market Impact Insights
- Short-term ETH price pressure observed
- Increase in large on-chain transactions
- Market sentiment showing volatility