Ethereum Whales Sell $27.88M Worth in Market Move Impacting Price

Two significant Ethereum whales recently liquidated over 16,923 ETH worth approximately $27.88 million, contributing to increased market volatility and raising concerns about potential long-term impacts on the digital currency’s price. This major sell-off by these prominent investors has led to a downward pressure on Ethereum prices that are currently hovering around $1,623. The impact of this large transaction comes at a time when ETH has already experienced significant price declines over the past year, with investor sentiment cautious in light of such substantial movements.