A veteran Ethereum trader recently sold a significant portion of their holdings, sparking concerns about ongoing selling pressure in the market. With an estimated sale worth around $54.78 million, the move has left many analysts and traders pondering its potential impact on future price movements. Despite this shift, ETH prices have managed to maintain support at the $3,000 mark, a testament to the underlying bullish sentiment in the market. 18,000 ETH was deposited by the trader into Bitstamp, suggesting that further sales might be imminent. While the trade itself has caused some anxiety, institutions like BitMine are playing a pivotal role by aggressively buying ETH, contributing to the overall positive trend. Analysts believe this buying activity could offset any potential sell-offs from the veteran trader and drive Ethereum prices upwards. Further data regarding the trader’s remaining holdings is awaited.