Whale Wallets Sell Off ETH Holdings Amid Market Turbulence As the cryptocurrency market experienced a significant downturn, it was not just retail investors who felt the impact. Ethereum whales, or those holding large amounts of ETH, also saw their accumulated wealth decrease. This was evident in the movement of ETH from whale wallets to exchanges, indicating a potential sell-off. Accumulation Strategies Interrupted by Liquidations For many Ethereum whales, accumulating large amounts of ETH has been a successful strategy in the past. However, the recent market turbulence and liquidations have put a pause on this accumulation tactic. With sharp price drops, it becomes riskier for whales to hold onto their ETH as they may face liquidations on leveraged positions. Whale Selling Pressure Leads to Market Downturn As whale wallets move to sell their ETH holdings, it creates significant selling pressure on the market. This, combined with the liquidations and panic selling from retai...
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