Ethereum Price Drops Amidst Market Volatility, Whale Capitulates at Loss

The Ethereum price experienced a downturn on Monday, mirroring the broader crypto market’s risk-off sentiment and following a significant loss by a large whale investor. The cryptocurrency fell to $2,400 from its recent high of $2,732, wiping out nearly $35 billion in market capitalization, decreasing from $325 billion on May 14th to $289 billion. This decline was fueled by the withdrawal of a substantial amount of Ethereum from a prominent whale wallet, resulting in an estimated loss of $16.8 million.