Ethereum whales have been strategically accumulating massive amounts of ETH amidst a rapid price decrease, with one whale spending $70 million USDC to buy 23,790 ETH as the price fell to nearly $2,942. This buying frenzy began days ago, coinciding with a broader trend of Ethereum accumulation by large holders, as the cryptocurrency declined for three days in a row before slightly recovering.
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0 posts last weekEthereum Faces Significant Sell-Off Amid Bearish Market Sentiments
Ethereum’s price correction has led to a significant offloading of ETH tokens, with 32.5K ETH deposited to CEXs in the past 24 hours. This has sparked bearish market sentiments, with the token’s price plunging by 5.18% to $3,340, indicating a lack of investor confidence and potential downward momentum ahead. Whales’ cautious approach suggests anticipation of a more significant market correction before considering a buyback.
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