Ethereum Whale Emerging During Market Weakness, Sold Millions of Dollars 9 Years Later! Here Are the Details

A long-time Ethereum (ETH) investor has sold the majority of his holdings after nearly a decade, cashing out $22 million worth of ETH at a time when the cryptocurrency’s price has fallen to its lowest level in two years. Long-Term Ethereum Whale Sells 14,015 ETH for $22 Million After 9 Years According to on-chain data, the investor, who purchased his ETH in 2016 for around $8 per coin, dumped 14,015 ETH on decentralized exchange Uniswap in a 15-hour period. The ETH was exchanged for $22 million in USDC, a stablecoin pegged to the US dollar. History of Selling During Market Crashes This is not the first time a whale has sold during a weak market. Blockchain records show the same wallet being sold: 6,630 ETH in May 2022 4,035 ETH in June 2023 Both of these sell-offs occurred during major price corrections in the crypto market, a pattern repeated this week as ETH fell sharply from its December highs of $4,000 to $1,412. Despite the recent sale, the wallet still holds 521 ETH, currently worth around $830,000. ETH Price Rebounds on Market Optimism Ethereum has rallied alongside the broader crypto market, trading at $1,600, up over 8% in the past 24 hours. The recovery comes amid renewed investor optimism after U.S. President Donald Trump announced a 90-day pause on new tariffs for more than 75 countries, a move that led to a recovery in risk assets in global markets. ETH’s trading volume also increased by 25% in the past day, reaching $33 billion, as traders re-entered the market. *This is not investment advice. Continue Reading: Ethereum Whale Emerging During Market Weakness, Sold Millions of Dollars 9 Years Later! Here Are the Details

Source: BitcoinSistemi