Tuesday, May 27, 2025
No Result
View All Result
DOLLAR BITCOIN
Shop
  • Home
  • Blockchain
  • Bitcoin
  • Cryptocurrency
  • Altcoin
  • Ethereum
  • Market & Analysis
  • DeFi
  • More
    • Dogecoin
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet
DOLLAR BITCOIN
No Result
View All Result
Home Ethereum

Ethereum faces downward pressure as whale dumps $12 mln ETH

n70products by n70products
October 8, 2024
in Ethereum
0
Ethereum faces downward pressure as whale dumps $12 mln ETH
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


  • An ICO-era whale has dumped $12 million ETH on Kraken. 
  • ETH’s market sentiment and demand had been nonetheless weak. 

Ethereum [ETH] recorded key promote strain from a notable whale from the 2017 ICO (preliminary coin providing) period. 

In accordance with analyst EmberCN, the whale obtained 150,000 ETH (price) via the ICO.

Nonetheless, on the eighth of October, the entity transferred 5K ETH ($12.22 mln). Since September, the whale has reportedly dumped over $113 million ETH (45K cash), per the analyst. 

“The whale who obtained 150,000 ETH via the ICO transferred one other 5,000 ETH ($12.22M) to Kraken 4 hours in the past. He has bought 45,000 ETH ($113.2M) up to now two weeks, with a median value of $2,516.” 

Regardless of the newest sell-off, the whale nonetheless held over $200 million price of ETH. 

ETH’s value response

EthereumEthereum

Supply: CryptoQuant

Apparently, the whale’s dump mirrored the general weak demand for ETH from U.S. traders. As illustrated by the damaging studying on the Coinbase Premium Index, there was little curiosity in ETH at press time. 

That mentioned, the low demand might delay the anticipated sturdy rebound for ETH following the current plunge under $2500. 

Within the quick time period, whale order knowledge and liquidation heatmaps instructed that $2400 and $2550 had been essential targets to observe.

If a liquidity seize ensued, appreciable lengthy positions at $2400 could possibly be liquidated (shiny cluster). This might entice value motion. 

EthereumEthereum

Supply: Coinglass

Then again, important overhead quick positions had been constructing close to $2450 and $2550. 

Whale order evaluation knowledge supported the above liquidation knowledge. Notably, at press time, the Binance change had a promote wall at $2500-$2520 (pink traces) and a purchase wall at $2400 (inexperienced traces). 

ETHETH

Supply: Coinglass

On decrease timeframe charts, ETH has dropped to short-term help simply above $2400. At press time, it was valued at $2.42K, down 8% up to now seven days of buying and selling. 

Nonetheless, technical indicators’ readings had been weak. With RSI toiling under common and a dip in buying and selling quantity, ETH’s short-term rebound might rely upon staying above $2400 and reclaiming the $2500 degree. 

ETHETH

Supply: ETH/USDT, TradingView

Subsequent: Quant: Will QNT drop to $57 as bearish pressure mounts?



Source link

Tags: DownwardDumpsETHEthereumFacesmlnpressureWhale
Previous Post

Solana Creator Anatoly Yakovenko Says Memecoins Are a Good Thing for Crypto, Forcing Projects To Prove Value

Next Post

Ethereum Price Dips Again: Is This a Buying Opportunity?

Next Post
Ethereum Price Dips Again: Is This a Buying Opportunity?

Ethereum Price Dips Again: Is This a Buying Opportunity?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Premium Content

Bitcoin Price Rejects $70K, Here Are Key Levels To Watch

Bitcoin Price Rejects $70K, Here Are Key Levels To Watch

March 12, 2024
Andreessen Horowitz Says Future of Crypto in US Is Bright, Sees Digital Asset Pathway to Regulatory Clarity

Andreessen Horowitz Says Future of Crypto in US Is Bright, Sees Digital Asset Pathway to Regulatory Clarity

November 12, 2024
Dogecoin (DOGE) Lags Behind: Struggles to Reignite Bullish Momentum

Dogecoin (DOGE) Lags Behind: Struggles to Reignite Bullish Momentum

January 24, 2025
Trader Says Altcoin That’s Doubled in Less Than a Week Could Go Higher, Outlines Path Forward for Sui

Trader Says Altcoin That’s Doubled in Less Than a Week Could Go Higher, Outlines Path Forward for Sui

February 13, 2024
Solana (SOL) Gearing Up: Is a New Surge on the Horizon?

Solana (SOL) Gearing Up: Is a New Surge on the Horizon?

December 25, 2024
Stablecoins Remain Blockchain and Crypto’s ‘Killer App’ Amid Tech Advancements, Says Circle CEO Jeremy Allaire

Stablecoins Remain Blockchain and Crypto’s ‘Killer App’ Amid Tech Advancements, Says Circle CEO Jeremy Allaire

January 17, 2024

Recent Posts

  • XRP Has No Issuer, True Decentralization Explained
  • Coinbase Faces Class Action Lawsuit Over COIN Stock Drop Linked to Data and Regulatory Breaches
  • Ethereum Price Faces Pressure: Can It Sustain Its Recent Rally?

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Blog
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

Recommended

XRP Has No Issuer, True Decentralization Explained

May 27, 2025
Coinbase Faces Class Action Lawsuit Over COIN Stock Drop Linked to Data and Regulatory Breaches

Coinbase Faces Class Action Lawsuit Over COIN Stock Drop Linked to Data and Regulatory Breaches

May 27, 2025

© 2023 Dollar-Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Blockchain
  • Bitcoin
  • Cryptocurrency
  • Altcoin
  • Ethereum
  • Market & Analysis
  • DeFi
  • More
    • Dogecoin
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet

© 2023 Dollar-Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version