Ethereum Whales Sell $136M ETH on Binance, Coinbase

The Ethereum price surge paused as whales moved $136 million worth of ETH to exchanges, triggering a decline in the cryptocurrency's value.

Ethereum Whales Sell $136m Eth On Binance, Coinbase_65b9741a9a80a.webp

Ethereum’s robust momentum hit a roadblock on December 29, 2023, as the cryptocurrency, following an impressive rally, experienced a setback with losses extending into Friday. The surge on Thursday drove Ethereum’s price above the significant $2,445 threshold, marking a noteworthy achievement. However, this upward momentum was short-lived, with the crypto slipping to around $2,350.

The downturn is attributed to substantial whale transfers, indicating a move by these large holders to secure profits from the recent price surge. Over the last 24 hours, whales have unloaded more than $136 million worth of ETH across various crypto exchanges.

🚨 🚨 🚨 🚨 33,400 #ETH (78,816,607 USD) transferred from unknown wallet to #Binancehttps://t.co/V40ucDGpxO

— Whale Alert (@whale_alert) December 28, 2023

Whale Alert on X reported three significant Ethereum whale transactions post the recent price surge, totaling $136.18 million. The latest transaction, occurring approximately four hours ago, involved the transfer of 10,000 ETH from an unknown wallet to Gate.io, amounting to $23.26 million.

In another notable transaction, 14,612 ETH, valued at $34.11 million, was dumped to Coinbase from an undisclosed wallet. The largest dump, recorded about 15 hours ago, involved 33,400 ETH, worth $78.81 million, directed towards Binance from an unidentified wallet.

Ethereum’s Latest Market Update

As of the latest market update, the price of Ethereum (ETH) has experienced a 1.19% decline, settling at $2,353.05 as of press time on Friday. This follows a notable 30-day high of $2,445.02 achieved on Thursday, December 28. Despite the current dip, the cryptocurrency has seen a commendable 3% gain over the last seven days, attributed to the recent bullish trend.

ethereum whales sell 136m eth on binance coinbase 65b9741a9ce37

Furthermore, Ethereum has demonstrated a robust 1-month gain, exceeding 14%. TradingView analytics reveal that the current ETH price is well above the 50-day EMA of 2156.90, indicating a prevailing bullish sentiment despite the recent pullback. The RSI value remains neutral at 59.5.

Related: Solana Demonstrates Superiority Over Ethereum

At the time of writing, the Ethereum market cap has experienced a 1.18% decline, settling at $282.79 billion. Additionally, the 24-hour trade volume has seen a significant drop, decreasing by 22.32% to $13.60 billion.

(100 votes)

5.0/5

(100 votes)

Latest

Crypto Trader James Wynn Loses $99 Million In A Week

News | Altcoin | Editor Choice

Crypto Trader James Wynn Loses $99 Million in a Week

Crypto trader James Wynn lost $99 million in just one week due to failed Bitcoin bets, while another trader made $17 million by taking the opposite positions.

Most Ethereum Etf Investors Deep In The Red

News | Altcoin | Editor Choice

Most Ethereum ETF Investors Deep in the Red

Most investors in BlackRock and Fidelity’s Ethereum ETFs are suffering heavy losses as Ether’s price falls well below their entry levels, amid volatility driven by former President Trump’s trade policies.

Trading Volume On Pancakeswap Reaches $138 Billion, Surpassing Uniswap

Altcoin | Editor Choice

Trading Volume on PancakeSwap Reaches $138 Billion, Surpassing Uniswap

Thanks to strong support from CZ and Binance exchange, PancakeSwap's trading volume in May reached $138 billion, far surpassing Uniswap.

Deepseek Unveils Upgraded Ai Model, Claims Performance On Par With Chatgpt And Gemini

News | AI | Editor Choice

DeepSeek Unveils Upgraded AI Model, Claims Performance on Par with ChatGPT and Gemini

DeepSeek, a leading AI company in China, has unveiled a powerful new model with advanced reasoning capabilities, claiming performance on par with ChatGPT and Gemini, further intensifying the global AI race.

Sec Officially Withdraws Lawsuit Against Binance And Cz

Editor Choice | Policy & Regulations

SEC Officially Withdraws Lawsuit Against Binance and CZ

The SEC has officially withdrawn its lawsuit against Binance and CZ, concluding the final legal actions by the SEC targeting cryptocurrency.