Crypto Whale Dumps 18,000 ETH: Market Shockwaves and Price Plunge!

Key Points:

• Giant Whale sells 18,000 ETH, incurring a $2.74 million loss.
• Average selling price per ETH: $1,644.

According to monitoring by Ember, the whale initially sold 18,000 ETH earlier today.

However, in the past hour, they followed up with another 6,000 ETH sale, amounting to approximately $9.82 million in value.

The total of 18,000 ETH sold by this giant whale in a single day represents a staggering $29.6 million worth of cryptocurrency. What’s more, the average selling price for these transactions was $1,644 per ETH, shedding light on the potential motives behind this sizable sell-off.

While the whale’s actions have garnered attention, the move has not come without consequences. The sale of 18,000 ETH at an average price of $1,644 has resulted in a loss of approximately $2.74 million for the investor. This has left many in the crypto community speculating about the reasons behind such a costly move.

The giant whale still holds 4,000 ETH within their wallet. This remaining stake in Ethereum could hint at their ongoing interest in the cryptocurrency, and it raises questions about whether further transactions are on the horizon.

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