{"id":554826,"date":"2024-10-10T15:00:47","date_gmt":"2024-10-10T15:00:47","guid":{"rendered":"https:\/\/uniquehot.com\/?p=554826"},"modified":"2024-10-10T12:14:17","modified_gmt":"2024-10-10T12:14:17","slug":"ethereum-price-fell-1500","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-fell-1500\/","title":{"rendered":"Here\u2019s Why The Ethereum Price Fell Toward $1,500"},"content":{"rendered":"

The price of Ethereum has experienced a notable decline following a major Ether sale this week. The unexpected decrease has left the crypto community anxious about the stability of the world\u2019s second-largest cryptocurrency and the long-term effects of the decline.\u00a0<\/span><\/p>\n

Ethereum Price Drops After Large-Scale Ether Swap<\/h2>\n

On Monday, October 9, the price of Ethereum declined following an extensive Ether swap by the <\/span>Ethereum Foundation<\/span><\/a>, a non-profit community-run organization dedicated to enabling better human coordination.\u00a0<\/span><\/p>\n

Related Reading: These Bullish Factors Prove XRP Price Rally Is Not Over Yet<\/a><\/div>\n

The Ether transaction which took place on Uniswap, a decentralized crypto exchange platform, saw the ETH price drop 5% from its daily high of $1,635 to a local low of $1,553 before recovering once more.<\/span><\/p>\n

According to <\/span>Arkham data<\/span><\/a>, the Ethereum Foundation swapped approximately 1,700 ETH worth $2.7 million to a single wallet address which contained almost $400,000 worth of cryptocurrencies and was titled \u2018Grant Provider\u2019 by <\/span>Etherscan<\/span><\/a>.<\/span><\/p>\n

The specific intentions behind the large-scale swap have not been disclosed by the Ethereum Foundation. However, the Ethereum Foundation, an organization that holds a considerable influential position, regularly <\/span>swaps large amounts of tokens<\/span><\/a> to fund its operations.\u00a0<\/span><\/p>\n

Presently, Ethereum is trading at a price value of 1589.36 after recovering from the initial decline. The steep decline has left the crypto community worried about the health of the cryptocurrency and whether the price of Ethereum would recover.\u00a0<\/span><\/p>\n

\"Ethereum<\/p>\n

ETH price recovers after 5% decline | Source: ETHUSD on Tradingview.com<\/a><\/pre>\n
ETH Whales Dump $8.5 Billion<\/h2>\n
The Ethereum Foundation has not been the only large wallet to sell in recent times as other ETH whales have taken advantage of the altcoin\u2019s price. According to crypto analyst Ali Charts on X, ETH whales <\/span>dumped<\/span><\/a> a whopping $8.5 billion worth of tokens.<\/span><\/p>\n
Related Reading: Crypto Analyst Presents Data To Prove That XRP Is Deflationary<\/a><\/div>\n
This large selling started in February this year and has continued into October. As a result, the whale selling has seen over <\/span>5 million ETH<\/span><\/a> sold and redistributed over this 8-month period. The analyst also points out that \u201cthis selling trend continues with no current indication of a shift towards #ETH accumulation yet.\u201d<\/span><\/p>\n
\"Ethereum<\/p>\n
ETH whales dump 5 million tokens | Source: X<\/pre>\n
Compared to its all-time high of $4891.70 in 2021, the <\/span>price of ETH<\/span><\/a> has dropped by more than half and has been struggling to reclaim the $2,000 mark. However, this could present a unique buying opportunity for investors who could see the price decline as ETH being on discount.\u00a0<\/span><\/p>\n
Nevertheless, Ethereum continues to hold its position as the <\/span>second-largest cryptocurrency<\/span><\/a> in the market with a market cap of $191.5 billion at the time of writing. Over the last day, the altcoin has also seen some recovery, rising to $1,593 as bulls gear up to retest the $1,600 resistance.<\/span><\/p>\n
Featured image from Techopedia, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The price of Ethereum has experienced a notable decline following a major Ether sale this week. The unexpected decrease has left the crypto community anxious about the stability of the world\u2019s second-largest cryptocurrency and the long-term effects of the decline.\u00a0 Ethereum Price Drops After Large-Scale Ether Swap On Monday, October 9, the price of Ethereum declined following an extensive Ether swap by the Ethereum Foundation, a non-profit community-run organization dedicated to enabling better human coordination.\u00a0 Related Reading: These Bullish Factors Prove XRP Price Rally Is Not Over Yet The Ether transaction which took place on Uniswap, a decentralized crypto exchange platform, saw the ETH price drop 5% from its daily high of $1,635 to a local low of $1,553 before recovering once more. According to Arkham data, the Ethereum Foundation swapped approximately 1,700 ETH worth $2.7 million to a single wallet address which contained almost $400,000 worth of cryptocurrencies and was titled \u2018Grant Provider\u2019 by Etherscan. The specific intentions behind the large-scale swap have not been disclosed by the Ethereum Foundation. However, the Ethereum Foundation, an organization that holds a considerable influential position, regularly swaps large amounts of tokens to fund its operations.\u00a0 Presently, Ethereum is trading at a price value of 1589.36 after recovering from the initial decline. The steep decline has left the crypto community worried about the health of the cryptocurrency and whether the price of Ethereum would recover.\u00a0 ETH price recovers after 5% decline | Source: ETHUSD on Tradingview.com ETH Whales Dump $8.5 Billion The Ethereum Foundation has not been the only large wallet to sell in recent times as other ETH whales have taken advantage of the altcoin\u2019s price. According to crypto analyst Ali Charts on X, ETH whales dumped a whopping $8.5 billion worth of tokens. Related Reading: Crypto Analyst Presents Data To Prove That XRP Is Deflationary This large selling started in February this year and has continued into October. As a result, the whale selling has seen over 5 million ETH sold and redistributed over this 8-month period. The analyst also points out that \u201cthis selling trend continues with no current indication of a shift towards #ETH accumulation yet.\u201d ETH whales dump 5 million tokens | Source: X Compared to its all-time high of $4891.70 in 2021, the price of ETH has dropped by more than half and has been struggling to reclaim the $2,000 mark. However, this could present a unique buying opportunity for investors who could see the price decline as ETH being on discount.\u00a0 Nevertheless, Ethereum continues to hold its position as the second-largest cryptocurrency in the market with a market cap of $191.5 billion at the time of writing. Over the last day, the altcoin has also seen some recovery, rising to $1,593 as bulls gear up to retest the $1,600 resistance. Featured image from Techopedia, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":554833,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,16163,89486,8953,6931,89614,8686,78803],"class_list":["post-554826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-price","tag-eth-price-performance","tag-ethereum-foundation","tag-ethereum-price","tag-ethereum-price-performance","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nHere\u2019s Why The Ethereum Price Fell Toward $1,500<\/title>\n<meta name=\"description\" content=\"The price of Ethereum has experienced a notable decline following a major Ether sale this week and has left the crypto community anxious.\" \/>\n<meta name=\"robots\" content=\"index, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Here\u2019s Why The Ethereum Price Fell Toward $1,500","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-fell-1500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-fell-1500\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-price-1.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-price-1.jpeg?fit=1200%2C600"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth price","eth price performance","ethereum foundation","ethereum price","ethereum price performance","ethusd","ethusdt"],"dateCreated":"2024-10-10T15:00:47Z","datePublished":"2024-10-10T15:00:47Z","dateModified":"2024-10-10T15:00:47Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Here\\u2019s Why The Ethereum Price Fell Toward $1,500\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-fell-1500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-fell-1500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Ethereum-price-1.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/Ethereum-price-1.jpeg?fit=1200%2C600\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth price\",\"eth price performance\",\"ethereum foundation\",\"ethereum price\",\"ethereum price performance\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2024-10-10T15:00:47Z\",\"datePublished\":\"2024-10-10T15:00:47Z\",\"dateModified\":\"2024-10-10T15:00:47Z\"}<\/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\/2023\/10\/Ethereum-price-1.jpeg?fit=1200%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/554826"}],"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\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=554826"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/554826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/554833"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=554826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=554826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=554826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}