Are Ethereum whales starting to sell?

In the past seven days, the price of Ethereum has fallen 15 percent. The highest point ever is still a long way off. On the blockchain, whales are moving their money, presumably to sell.

Four Ethereum whales moved nearly €800 million in ETH. Three whales collectively sent 196,000 ETH (about €658 million) to an unknown address. Another whale sent about 60,000 ETH (about €200 million) to Binance. This looks like they want to sell their ETH. Ethereum whales are very wealthy investors in ETH. Their actions are important to the market because they have a lot of influence on the price of Ethereum.

No reason to panic

While it may appear that some whales are selling ETH, this is no reason to be concerned. The percentage of ETH held by whales increased from 35 percent to more than 43 percent last year. This means whales are still holding a lot of ETH. Donald Trump's DeFi project, World Liberty Financial, is also an Ethereum whale. The fact that whales are capturing more ETH shows that they think the price will rise in the long run. In the past 365 days, Ethereum has risen 44 percent.

Conclusion

Although it looks like some Ethereum whales are selling ETH, they still continue to hold a lot of ETH. This, along with Ethereum's long-term growth, shows that there is confidence in the future of this cryptocurrency. For beginners, it is important to follow the movements of whales and general market trends, as they can greatly affect the price of Ethereum.