The giant whale that has been sleeping for 7 years transferred 92,500 Ethereum! ETH once fell below $3,100

This site (120BtC.coM): According to a warning from the blockchain tracking channel WhaleAlert at 11:39 last night, an address (0x0dB) transferred a large amount of assets for the first time after being dormant for 7 years, up to 92,499 ETH (about 2.9 One hundred million U.S. dollars). Currently, these Ethereums are still stored in wallets starting with 0xe48.. and have not been transferred to exchanges or updated before the interception.

Related to the Ethereum Foundation?

Due to the large number of transfers this time, there are concerns about possible market crashes. According to community feedback, these funds may be related to the Ethereum Foundation, but some people have said that these funds may come from early donors of the foundation. Currently, more than 20,000 ETH are still in another wallet and have not been sold or transferred yet. Signs to the exchange could also just be wallet sorting.

Ethereum once fell below $3,100

However, the culprit of Ethereum’s early decline again may be the bigger reason for spot ETFs. According to Nasen monitoring, nine Ethereum ETFs had a net outflow of US$220 million yesterday (25th), of which Grayscale’s ETHE had an outflow of over US$300 million, setting the largest sell-off since trading was opened.

Real-time data shows that Ethereum once dropped to US$3,087 this morning. Although it rebounded to US$3,187 at the time of writing, it still fell 1.75% in the past 24 hours; and Bitcoin's rebound during the same period appeared much stronger.

In the short term, unless the capital outflow of Grayscale ETHE can be significantly improved, the price will still have to bear selling pressure for a period of time.

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