Ethereum Price Slumps Below $3,720 Amidst Whale Activity & Exchange Outflows

Ethereum’s price has dipped below the crucial threshold of $3,720, sparking concern amidst heightened market volatility and conflicting investor sentiment. Recent on-chain data points to a potential shift in whale activity, with large holders moving substantial amounts of ETH, potentially signifying repositioning or preparation for selling. 39 Billion in ETH was traded last 24 hours, one of the steepest daily declines this week for Ethereum since early October.