The sea of Ethereum has been churning, and the whales are making waves. Over the past three days, these long-term holders have been offloading their ETH like it’s a fire sale at a discount store. Sure, ETH has bounced back 13% from its $1,400 low, but the whales are selling on the rise like they’ve got a hot date with a bear market. Trump’s 90-day tariff delay gave the market a breather, but investors are still clutching their pearls, unsure if this asset class is worth the drama.
Dormant Whale Awakens, Sells $16.86M ETH
One old-timer, a veteran Ethereum investor, decided it was time to cash in. They sold a whopping 10,702 ETH, worth $16.86 million, at $1,576 per token. Blockchain sleuths reveal this whale bought their stash back in 2016 when ETH was a mere $8. Talk about a glow-up! 🤑 Interestingly, most of these whales held onto their ETH when it was above $4,000 last December. But now, they’re selling like it’s Black Friday. Even Donald Trump’s DeFi project, World Liberty Financial, joined the panic sell-off. Because why not?
Meanwhile, crypto analyst Ali Martinez is playing the optimist. He thinks this is the perfect time to scoop up ETH. While the long-term holders are throwing in the towel, Martinez sees a golden opportunity for contrarian investors. New buyers, he says, have a sweet risk-reward setup in this market. 🎰
Is ETH Ready to Moon Again? 🌕
After crashing to $1,400 on Tuesday, ETH has clawed its way back up 13%, now trading at $1,612. Daily trading volumes are up 36%, hitting over $35 billion. Analysts are starting to whisper about a potential reversal. Popular crypto analyst Luciano_BTC points to a falling wedge pattern on the chart, often a sign of bullish reversals. If the trendline breaks, ETH could be in for some serious gains. 🚀
Adding fuel to the fire, the SEC has approved options trading for spot Ether ETFs. This could bring in more institutional players, turning the crypto world into a Wall Street playground. So, is ETH ready to bounce back, or is this just another tease? Only time will tell. 🕰️
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2025-04-10 08:44