{"id":607608,"date":"2024-05-12T07:31:21","date_gmt":"2024-05-12T07:31:21","guid":{"rendered":"https:\/\/wncen.com\/?p=607608"},"modified":"2024-05-12T07:34:38","modified_gmt":"2024-05-12T07:34:38","slug":"ethereum-whale-offloads-holdings-amidst-market-downturn","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-whale-offloads-holdings-amidst-market-downturn\/","title":{"rendered":"Ethereum Whale Offloads Holdings Amidst Market Downturn"},"content":{"rendered":"

Ethereum (ETH) tumbled 6.45% in the past week, marking a rough stretch for the world’s second-largest cryptocurrency. Generally, Ether has left investors much to desire in recent times with a price decline of 16.57% over the last few months. Amidst this bearish market, a crypto whale has sold off all his Ethereum tokens drawing much attention from traders and market experts alike.\u00a0<\/span><\/p>\n

\n
Related Reading: Ethereum Price Signals Fresh Increase Unless Fails To Surpass $3,080<\/a><\/div>\n<\/div>\n

ETH Whale Liquidates Holdings, Incurs Substantial Loss<\/strong><\/h2>\n

In an X post<\/a> on May 11, blockchain tracking platform Lookonchain reported that a crypto whale offloaded all its 6,714 ETH tokens at a market price of $19.5 million. While the profit looks quite massive, LookonChain states that the investor actually recorded a loss of $6.5 million based on the acquisition price of these tokens.<\/span><\/p>\n

Generally, whale transactions<\/a> gain much attention among investors as they are viewed as indicators of market trends. Thus, if a whale suddenly sells a large portion or all of their holdings it may be interpreted as a bearish signal prompting other investors to follow suit, resulting in a price dip.<\/span><\/p>\n

However, that may not necessarily be the case with the ETH market following this recent whale sell-off. With the Bitcoin halving<\/a> completed in April, the crypto bull run is expected to begin in the following months based on historical data.\u00a0<\/span><\/p>\n

In previous times, Ethereum has proven as one of the most favorable assets for investors in this period. Notably, the altcoin gained by over 2000% in the months following the Bitcoin halving in 2020. Thus, most ETH investors are likely to hold on to their tokens.\u00a0<\/span><\/p>\n

Aside from Ethereum, the whale also liquidated all its 428,047 Optimism (OP) and 901,685 Arbitrum (ARB) at a loss of $902, 000 and $1.08 million respectively. In total, they incurred a loss of $8.43 million in offloading their investments in the three prominent altcoins.
\n<\/span><\/p>\n

Related Reading: Ethereum Foundation Moves 1,000 ETH \u2013 Is The Top In?<\/a><\/div>\n

ETH Price Overview<\/strong><\/h2>\n

At the time of writing, ETH trades<\/a> at $2,919 reflecting a slight price gain of 0.27% in the last day. The altcoin appears to be heading for the $,2940 resistance zone. With sufficient buying pressure, ETH could push through this region with the next resistance level set at the $3050 price zone.\u00a0<\/span><\/p>\n

However, the altcoin’s daily trading volume has currently declined by 44.85% falling to a value of $6.71 billion. Ethereum, which ranks as a bigger altcoin remains 40.4% off its all-time high value of $4,891.70 achieved in November 2021z\u00a0<\/span><\/p>\n

\"Ethereum\"<\/p>\n

ETH trading at $2,921.60 on the daily chart | Source: ETHUSDT chart on Tradingview.com<\/a><\/pre>\n
Featured image from Smithsonian Magazone, chart from Tradingview<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"
Ethereum (ETH) tumbled 6.45% in the past week, marking a rough stretch for the world’s second-largest cryptocurrency. Generally, Ether has left investors much to desire in recent times with a price decline of 16.57% over the last few months. Amidst this bearish market, a crypto whale has sold off all his Ethereum tokens drawing much attention from traders and market experts alike.\u00a0 Related Reading: Ethereum Price Signals Fresh Increase Unless Fails To Surpass $3,080 ETH Whale Liquidates Holdings, Incurs Substantial Loss In an X post on May 11, blockchain tracking platform Lookonchain reported that a crypto whale offloaded all its 6,714 ETH tokens at a market price of $19.5 million. While the profit looks quite massive, LookonChain states that the investor actually recorded a loss of $6.5 million based on the acquisition price of these tokens. Generally, whale transactions gain much attention among investors as they are viewed as indicators of market trends. Thus, if a whale suddenly sells a large portion or all of their holdings it may be interpreted as a bearish signal prompting other investors to follow suit, resulting in a price dip. However, that may not necessarily be the case with the ETH market following this recent whale sell-off. With the Bitcoin halving completed in April, the crypto bull run is expected to begin in the following months based on historical data.\u00a0 In previous times, Ethereum has proven as one of the most favorable assets for investors in this period. Notably, the altcoin gained by over 2000% in the months following the Bitcoin halving in 2020. Thus, most ETH investors are likely to hold on to their tokens.\u00a0 Aside from Ethereum, the whale also liquidated all its 428,047 Optimism (OP) and 901,685 Arbitrum (ARB) at a loss of $902, 000 and $1.08 million respectively. In total, they incurred a loss of $8.43 million in offloading their investments in the three prominent altcoins. Related Reading: Ethereum Foundation Moves 1,000 ETH \u2013 Is The Top In? ETH Price Overview At the time of writing, ETH trades at $2,919 reflecting a slight price gain of 0.27% in the last day. The altcoin appears to be heading for the $,2940 resistance zone. With sufficient buying pressure, ETH could push through this region with the next resistance level set at the $3050 price zone.\u00a0 However, the altcoin’s daily trading volume has currently declined by 44.85% falling to a value of $6.71 billion. Ethereum, which ranks as a bigger altcoin remains 40.4% off its all-time high value of $4,891.70 achieved in November 2021z\u00a0 ETH trading at $2,921.60 on the daily chart | Source: ETHUSDT chart on Tradingview.com Featured image from Smithsonian Magazone, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":607613,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[89052,1946,8686,78803,2765,13573],"class_list":["post-607608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth-whale","tag-ethereum","tag-ethusd","tag-ethusdt","tag-liquidation","tag-sell-off"],"acf":[],"yoast_head":"\nEthereum Whale Offload Holdings Amidst Market Downturn<\/title>\n<meta name=\"description\" content=\"Amidst this bearish market, a crypto whale has 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a \u201cmusic nomad\u201d always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.","sameAs":["https:\/\/www.linkedin.com\/in\/semilore-faleti-7a9046218","https:\/\/x.com\/https:\/\/twitter.com\/SemiloreFaleti"],"url":"https:\/\/wncen.com\/author\/semilorefaleti\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Whale Offloads Holdings Amidst Market Downturn","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-whale-offloads-holdings-amidst-market-downturn\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-whale-offloads-holdings-amidst-market-downturn\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_humpback_whale_breaches_the_surface_of_the_ocean_on_a_sunny_day.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_humpback_whale_breaches_the_surface_of_the_ocean_on_a_sunny_day.jpg?fit=1000%2C750"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Semilore Faleti"}],"creator":["Semilore Faleti"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth whale","ethereum","ethusd","ethusdt","liquidation","sell-off"],"dateCreated":"2024-05-12T07:31:21Z","datePublished":"2024-05-12T07:31:21Z","dateModified":"2024-05-12T07:34:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Whale Offloads Holdings Amidst Market Downturn\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-whale-offloads-holdings-amidst-market-downturn\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-whale-offloads-holdings-amidst-market-downturn\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/a_humpback_whale_breaches_the_surface_of_the_ocean_on_a_sunny_day.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/a_humpback_whale_breaches_the_surface_of_the_ocean_on_a_sunny_day.jpg?fit=1000%2C750\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Semilore Faleti\"}],\"creator\":[\"Semilore Faleti\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth whale\",\"ethereum\",\"ethusd\",\"ethusdt\",\"liquidation\",\"sell-off\"],\"dateCreated\":\"2024-05-12T07:31:21Z\",\"datePublished\":\"2024-05-12T07:31:21Z\",\"dateModified\":\"2024-05-12T07:34:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/a_humpback_whale_breaches_the_surface_of_the_ocean_on_a_sunny_day.jpg?fit=1000%2C750","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607608"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/581"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=607608"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607608\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/607613"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=607608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=607608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=607608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}