Ethereum Whale Sells Nearly 47,000 ETH Amid Strong Market Rally

A major Ethereum (ETH) whale recently made waves by liquidating a substantial portion of their holdings, marking a significant move in the crypto market.

The wallet, which once held over $1 billion worth of ETH, has sold off nearly 47,000 ETH since early November, amounting to approximately $138.8 million in USDC.

This whale, who had amassed a staggering 398,891 ETH, has been selling at an average price of around $2,920 per token. The transaction was flagged by Lookonchain, which tracked the sales, signaling that the whale may be cashing out amid Ethereum’s recent gains.

However, while some large holders appear to be offloading their ETH, other investors are showing confidence in the asset’s future potential. In contrast to the whale’s moves, multiple new wallets have been accumulating ETH, withdrawing significant amounts from exchanges.

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This surge in both selling and accumulation reflects the ongoing shifts in sentiment among ETH holders, as the market continues to react to broader economic factors and institutional interest in digital assets.

Kostadin Dimitrov