Massive Ethereum Sell-Off by Crypto Whale Precedes SEC ETF Verdict
Monday, 20 May 2024, 09:47
Crypto Whale Sells Off Ethereum Before Critical ETF Ruling
A crypto whale recently offloaded $46 million in Ethereum during a pivotal period for the crypto market. This transaction is closely watched as the US SEC contemplates spot Ethereum exchange-traded funds (ETFs).
Critical Transaction Details
- The whale moved 15,000 ETH to Kraken, valued at $3,065 each
- Current profit estimate for the whale stands at $172.4 million
- Remaining Ethereum holdings amount to 105,874 ETH, equivalent to $327 million
This sell-off comes amidst a surge in long-term Ethereum holders divesting and market volatility.
The impending SEC ruling on Ethereum ETFs is crucial for market sentiment and stability.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.