According to current market trends, ETH has been on a downward spiral in the past 24 hours. With its price dropping by nearly 3%, it’s now trading at $2,447.52 at the time of writing this article.
The sell-off is attributed to the movement of a large amount of Ethereum to crypto exchange Binance. This price drop comes during a period when there is a large ETH transfer of 90,000 ETH, which is roughly worth $226.
It rose to $20 million to Binance within 24 hours. Before the last deposit, a wallet presumed to be of the ARB Foundation deposited 60,000 ETH, the equivalent of $150. 33 million. These transactions have elicited concerns about large-scale selling by investors and traders.
This comes after Vitalik Buterin, Ethereum’s founder, also sold off some ETH a few days ago, as earlier reported.
$ETH dumping?????
8 hours ago, a wallet (may belong to #ARB_Foundation) deposited 60k $ETH (~$150.33M) to #Binance.
Within 24 hours, he deposited totally 90k $ETH (~$226.02M) to
We współpracy z: https://www.thecoinrepublic.com/2024/09/01/ethereum-plunging-as-whales-keep-offloading/
