ETH Price Rises Despite Heavy Sell-Off Activity in the Market
Although the market is recovering, Ethereum (ETH) appears to be on the verge of a significant price drop. Both individual investors and institutions are displaying pessimism as they continue to offload ETH on various exchanges.
Azcnews Eth Price Rises Despite Heavy Sell Off Activity In The Market
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Institutional Sell-off On September 10, blockchain analytics firm Lookonchain reported on X (formerly Twitter) that Metalpha, a prominent Hong Kong-based asset management firm, had sold 10,000 ETH, worth $23.45 million, to Binance (BNB). Over the past four days, the firm has offloaded a total of 33,589 ETH, valued at $77.55 million, on Binance.
Despite this substantial sell-off, Metalpha still holds 51,300 ETH, equivalent to $120 million, as of the latest reports.
Are whales abandoning ETH?
A well-known crypto expert recently posted on X, pointing out that Ethereum whales have stopped accumulating ETH since early July. Instead, they… 0 reply
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