Ethereum Hit by Heavy Whale Selling: Where Could ETH Go Next?

Large investors have seemingly decided to offload a substantial amount of ETH, raising concerns among some analysts that the asset could be gearing up for fresh bearish momentum.

At the same time, the optimists are just as vocal, forecasting a powerful move north in the near future.

The Whales’ Latest Move Ali Martinez revealed that this group of market participants has sold or redistributed 226,435 ETH over the last 24 hours, marking one of the largest spikes in whale activity recently.

At current rates, the stash is worth roughly $430 million, and these investors now control 26.64 million coins, about 22% of the asset’s circulating supply.