Ethereum Whales Sell Over $213 Million Worth of ETH as Market Briefly Rebounds

Recent activity from large Ethereum investors known as whales suggests a potential sell-off in the cryptocurrency market. On August 27, on-chain monitoring platform Whale Alert reported a significant Ethereum deposit, estimated to be worth over $213 million, into U.S.-based exchange Coinbase. This move by whales has raised concerns about their motivations for dumping large quantities of ETH during a brief market rebound. Despite these transfers being made in separate transactions, the total value moved is noteworthy and suggests the possibility of a major sell-off from high-profile investors or institutions.