Ethereum Whales Sell Massive $1.8 Billion Worth of ETH Amidst Price Drop

A substantial sell-off by Ethereum’s biggest holders, estimated to be worth over $1.8 billion, has been observed in the past three days, according to data from beincrypto. Wallets holding between 100,000 and 1 million ETH have collectively offloaded more than 1.19 million ETH during this period, indicating a notable shift in investor sentiment as whales appear to be reducing their exposure to mitigate potential losses. This has added to the existing bearish pressure on Ethereum’s price, further dampening investor confidence.