Long-term whales have cashed out millions of dollars from Ethereum following the recent sell-off, potentially putting ETH at risk of further losses.
An early Ether (ETH) investor sold their ETH holdings over the past week as the price headed toward $2,000, sparking fears of further losses. However, onchain data tells a different story as traders speculate where ETH/USD might bottom.
Key takeaways:
An old Ethereum whale, an early investor holding tokens since the network’s first years, sold 55,000 ETH worth about $112.25 million and 9,442 ETH worth roughly $24 million over the past week.
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