Ethereum price has regained momentum today, but the recent whale movements raise concerns over a potential slump ahead. According to recent reports, the whales have offloaded around $60 million in ETH to Binance and Coinbase, hinting that the crypto might face downward pressure ahead. However, some have also argued that the investors might be taking advantage of profit-booking opportunities ahead of the price recovery.
Ethereum Price Likely To Dip Amid Whales’ Massive Dump
The whales have offloaded 22.67K ETH recently, which some view as profit-booking opportunities taken by the investors. According to whale alert, an ETH whale, identified by the wallet address “0x435…913ab” has offloaded 10K ETH, valued at around $26.1 million, to Binance. Arkham Intelligence showed that this address is linked to the Gnosis Safe Proxy address marked as the Metalpha.
Simultaneously, another whale with wallet address “0x968…3c625” sent 12,675 ETH, worth about $33.10 million, to the Coinbas
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