{"id":506778,"date":"2022-10-18T08:50:59","date_gmt":"2022-10-18T08:50:59","guid":{"rendered":"https:\/\/uniquehot.com\/?p=506778"},"modified":"2022-10-18T10:52:24","modified_gmt":"2022-10-18T10:52:24","slug":"ethereum-shaves-off-a-quarter-of-its-price-as-whales-dump-4-billion-in-eth","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum-shaves-off-a-quarter-of-its-price-as-whales-dump-4-billion-in-eth\/","title":{"rendered":"Ethereum Sheds A Quarter Of Its Price As Whales Dump $4 Billion In ETH"},"content":{"rendered":"

Ethereum, dubbed as the \u201cking of all altcoins\u201d and the second largest cryptocurrency in terms of market capitalization, managed to trim its recent losses as it continues to struggle in this extended crypto winter.<\/span><\/p>\n

According to tracking from <\/span>Coingecko<\/span><\/a>, Ethereum is changing hands at $1,332.18, going up by 2.1% over the last 24 hours and tallying an increase of 3.2% over the past week.<\/span><\/p>\n

But the digital asset is still performing badly considering it is nowhere near its all-time high of $4,878 attained on November 10, 2021.<\/span><\/p>\n

By this date last year, the altcoin opened its day with a trading price of $3,848, which is almost thrice as much as its current value.<\/span><\/p>\n

Moreover, Ethereum is coming off a major price dump, losing 26% of its $1,773 price on September 10.<\/span><\/p>\n

While the crypto, along with its fellow digital currencies are no stranger to price drops caused by the unpredictable volatility of their market, experts think big investors of Ethereum are somehow responsible for its recent slump.<\/span><\/p>\n

Related Reading: TRON Makes Record For Period Spent In Deflationary State \u2013 Good For TRX?<\/a><\/div>\n

Ethereum Whales Collectively Dump<\/b><\/h2>\n

On October 16, crypto market intelligence platform Santiment shared on Twitter that Ethereum sharks and whales, for the past five weeks, have been dumping their holdings of the altcoin.<\/span><\/p>\n

According to the data released, these big investors dumped a total of 3.3 million ETH tokens with a total value of $4.3 billion based on the crypto\u2019s current trading price.<\/span><\/p>\n

\n

?? #Ethereum<\/a>‘s shark & whale addresses (holding 100 to 1M $ETH<\/a>) have dropped 3.3M $ETH<\/a> in just the past 5 weeks. This equates to about $4.2B in dumped coins. The asset’s price vs. #Bitcoin<\/a> has ebbed and flowed based on behavior of these key stakeholders. https:\/\/t.co\/1L2iGaoxzg<\/a> pic.twitter.com\/jDkSzS6Vyk<\/a><\/p>\n

\u2014 Santiment (@santimentfeed) October 16, 2022<\/a><\/p><\/blockquote>\n

Ethereum sharks and whales are, as defined, those who are in possession of 100 to 1 million ETH coins.<\/span><\/p>\n

With this development, the thesis stating that crypto whales or largest investors affect the market greatly with their accumulation and dumping actions has been proven true once again.<\/span><\/p>\n

It is important to note that during the time when Ethereum holders were getting rid of their assets, the cryptocurrency bled further as its price was sent into a nosedive.<\/span><\/p>\n

Not Yet Time To Panic<\/b><\/h2>\n

Things are not looking good for Bitcoin\u2019s top rival, but some experts believe it is not yet time to push the panic button as there are upsides to this development.<\/span><\/p>\n

Some analysts say the same holders that dumped their Ethereum holdings might try to push the asset\u2019s price higher than what was seen of it last month.<\/span><\/p>\n

The ETH sharks and whales now own lesser number of tokens as compared to how much they had when it was trading for $1,400 and might try to buy back the assets they have sold.<\/span><\/p>\n

This could turn out to be the scenario targeted by ETH holders as forecasts from <\/span>Coincodex<\/span><\/a> show the cryptocurrency falling all the way down to $1,221 over the next five days.<\/span><\/p>\n

The month of November is seen to bring more struggle to the crypto as the 30-day prediction puts ETH trading price at $909.14.<\/span><\/p>\n

<\/p>\n

ETH market cap at $163.5 billion on the daily chart | Featured image from Forbes, Chart: TradingView.com<\/a>\r\n\r\nDisclaimer: The analysis represents the author's personal views and should not be construed as investment advice.<\/pre>\n","protected":false},"excerpt":{"rendered":"
Ethereum, dubbed as the \u201cking of all altcoins\u201d and the second largest cryptocurrency in terms of market capitalization, managed to trim its recent losses as it continues to struggle in this extended crypto winter. According to tracking from Coingecko, Ethereum is changing hands at $1,332.18, going up by 2.1% over the last 24 hours and tallying an increase of 3.2% over the past week. But the digital asset is still performing badly considering it is nowhere near its all-time high of $4,878 attained on November 10, 2021. By this date last year, the altcoin opened its day with a trading price of $3,848, which is almost thrice as much as its current value. Moreover, Ethereum is coming off a major price dump, losing 26% of its $1,773 price on September 10. While the crypto, along with its fellow digital currencies are no stranger to price drops caused by the unpredictable volatility of their market, experts think big investors of Ethereum are somehow responsible for its recent slump. Related Reading: TRON Makes Record For Period Spent In Deflationary State \u2013 Good For TRX? Ethereum Whales Collectively Dump On October 16, crypto market intelligence platform Santiment shared on Twitter that Ethereum sharks and whales, for the past five weeks, have been dumping their holdings of the altcoin. According to the data released, these big investors dumped a total of 3.3 million ETH tokens with a total value of $4.3 billion based on the crypto\u2019s current trading price. ?? #Ethereum‘s shark & whale addresses (holding 100 to 1M $ETH) have dropped 3.3M $ETH in just the past 5 weeks. This equates to about $4.2B in dumped coins. The asset’s price vs. #Bitcoin has ebbed and flowed based on behavior of these key stakeholders. https:\/\/t.co\/1L2iGaoxzg pic.twitter.com\/jDkSzS6Vyk \u2014 Santiment (@santimentfeed) October 16, 2022 Ethereum sharks and whales are, as defined, those who are in possession of 100 to 1 million ETH coins. With this development, the thesis stating that crypto whales or largest investors affect the market greatly with their accumulation and dumping actions has been proven true once again. It is important to note that during the time when Ethereum holders were getting rid of their assets, the cryptocurrency bled further as its price was sent into a nosedive. Not Yet Time To Panic Things are not looking good for Bitcoin\u2019s top rival, but some experts believe it is not yet time to push the panic button as there are upsides to this development. Some analysts say the same holders that dumped their Ethereum holdings might try to push the asset\u2019s price higher than what was seen of it last month. The ETH sharks and whales now own lesser number of tokens as compared to how much they had when it was trading for $1,400 and might try to buy back the assets they have sold. This could turn out to be the scenario targeted by ETH holders as forecasts from Coincodex show the cryptocurrency falling all the way down to $1,221 over the next five days. The month of November is seen to bring more struggle to the crypto as the 30-day prediction puts ETH trading price at $909.14. ETH market cap at $163.5 billion on the daily chart | Featured image from Forbes, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>\n","protected":false},"author":557,"featured_media":506780,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625],"tags":[428,1119,1144,6664,1558,16918,8323,1946,8686,14781],"class_list":["post-506778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","tag-bitcoin","tag-btc","tag-btcusd","tag-crypto","tag-cryptocurrency","tag-dump","tag-eth","tag-ethereum","tag-ethusd","tag-whales"],"acf":[],"yoast_head":"\nEthereum Sheds A Quarter Of Price As Whales Dump $4-B In ETH<\/title>\n<meta name=\"description\" content=\"Ethereum, dubbed as the 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Sheds A Quarter Of Its Price As Whales Dump $4 Billion In ETH","url":"http:\/\/uniquehot.com\/news\/ethereum-shaves-off-a-quarter-of-its-price-as-whales-dump-4-billion-in-eth\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum-shaves-off-a-quarter-of-its-price-as-whales-dump-4-billion-in-eth\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/Ethereum-16.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/Ethereum-16.png?fit=576%2C382"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","crypto","cryptocurrency","dump","eth","ethereum","ethusd","whales"],"dateCreated":"2022-10-18T08:50:59Z","datePublished":"2022-10-18T08:50:59Z","dateModified":"2022-10-18T10:52:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Sheds A Quarter Of Its Price As Whales Dump $4 Billion In ETH\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-shaves-off-a-quarter-of-its-price-as-whales-dump-4-billion-in-eth\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum-shaves-off-a-quarter-of-its-price-as-whales-dump-4-billion-in-eth\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Ethereum-16.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Ethereum-16.png?fit=576%2C382\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"crypto\",\"cryptocurrency\",\"dump\",\"eth\",\"ethereum\",\"ethusd\",\"whales\"],\"dateCreated\":\"2022-10-18T08:50:59Z\",\"datePublished\":\"2022-10-18T08:50:59Z\",\"dateModified\":\"2022-10-18T10:52:24Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/10\/Ethereum-16.png?fit=576%2C382","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/506778"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=506778"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/506778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/506780"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=506778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=506778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=506778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}