Ethereum Whales Liquidate Losses Amidst Market Decline

A significant sell-off by a major Ethereum whale has exacerbated the cryptocurrency’s ongoing price downturn. On-chain data reveals that wallet address ‘0x1b57’, known for accumulating ETH holdings, recently transferred 5,570 ETH (worth approximately $19.56 million) to Binance in three separate transactions. This move follows a recent dip in market sentiment following heavy liquidations across the crypto sphere and comes amidst fears of continued price decline. The losses, estimated at $2.15 million, highlight how rapid market fluctuations can turn even well-positioned bets against investors.