Crypto: Ethereum In Danger? An Ethereum Whale Liquidates 1.2 Billion In ETH

Ethereum surprises this week with dazzling performances, even surpassing Bitcoin, with an increase of 28% compared to 18% for the queen of cryptos. The threshold of 3,000 dollars has been crossed, and traders hope to see the value of ETH rise further. However, troubling signs are emerging: a huge holder of Ethereum, or “whale”, has just sold a significant portion of their stock, risking destabilizing the market. So, is a crash to be feared?

Massive sales of Ethereum: a troubling signal

Latest Ethereum news: since November 7, a “whale” holding nearly 400,000 ETH, worth $1.28 billion, has initiated a wave of massive sales. This crypto giant has already exchanged 46,853 ETH for $138 million in USDC stablecoin, at a price of $2,920 per unit.

https://twitter.com/lookonchain/status/1855804750626971775

More recently, 12,886 additional ETH, worth $41.24 million, were transferred to an exchange wallet, signaling an imminent sale. To date, the whale still holds 352,036 ETH, worth approximately $1.27 billion.

This large-scale sale raises fears about the price evolution of Ethereum. Because when the biggest players start to sell, the market trend can quickly reverse.

If other whales decide to follow suit, a snowball effect could trigger, increasing selling pressure and slowing down the bullish momentum observed recently.

• Total volume sold: 46,853 ETH ($138 million);
• Last sale: 12,886 ETH ($41.24 million);
• Initial sale price: $2,920;
• Current position: 352,036 ETH ($1.27 billion);
• Critical resistance threshold: $3,000.

Crypto market: traders under pressure

Analysts and investors are closely monitoring these transactions, fearing a trend reversal. If Ethereum fails to maintain its course above $3,000, a break of this threshold could create a significant turnaround. For traders, this resistance at $2,920 could represent a key point.

Panic could spread among small investors who, seeing these whale movements, risk selling to secure their gains or limit their losses.

Some observers even mention the possibility of a “domino effect” if other large holders follow suit. This context could push the flagship altcoin towards a short-term price decline, impacting the entire crypto market.

For the more cautious, each new sale by these giants reinforces the idea that the current price of Ethereum could be the highest reached in the near future. It remains to be seen whether this anticipation will materialize, or if ETH will defy expectations.

For Peter Brandt, the forecasts for Ethereum are bleak: he envisions a drop to $1,550 if buy signals continue to be absent. Are investors getting tired of Ethereum?