Crypto whales are offloading large amounts of Ethereum (ETH), adding sell pressure to a correction in digital asset markets.

Blockchain tracking firm Lookonchain says that “many whales are dumping ETH” through a number of different platforms and exchanges in apparent panic.

“This whale exchanged 4,591.8 Lido Staked Ether (stETH) directly for 4,589.5 ETH at a loss of 2.3 ETH($6K) to avoid the long withdrawal process.

He then deposited all 5,145 ETH ($13.3M) into Binance for sale.”

Lookonchain spotted another whale similarly depositing nearly $50 million in ETH to sell on Coinbase, the biggest crypto exchange in the US.

“A whale is selling 19,000 ETH ($49.17M)!

This whale requested a withdrawal of 30,007 Lido Staked Ether (stETH) ($78.67M) 4 days ago and claimed 19,000 ETH ($49.17M).

And the whale is depositing the 19,000 ETH ($49.17M) to Coinbase to sell!”

Another two whales were seen selling 8,208 ETH worth $21.59 million in order to repay debts on lending platform Aave to avoid being liquidated.

And an additional whale, originally buying ETH well above $3,000 in March and April, apparently capitulated and has been selling their holdings at a loss on Binance.

“Another whale sold 5,088 ETH ($13.58M) at a loss of $3.66M.

This whale withdrew 5,088 ETH ($17.24M) from Binance at $3,389 from Mar 28 to Apr 3.”

Ethereum reached its high for the year at $4,115 in March, and is now down to $2,583 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Whales Sell Off Massive Amounts of Ethereum (ETH) As Crypto Markets Break Down appeared first on The Daily Hodl.

Crypto whales are offloading large amounts of Ethereum (ETH), adding sell pressure to a correction in digital asset markets.

Blockchain tracking firm Lookonchain says that “many whales are dumping ETH” through a number of different platforms and exchanges in apparent panic.

“This whale exchanged 4,591.8 Lido Staked Ether (stETH) directly for 4,589.5 ETH at a loss of 2.3 ETH($6K) to avoid the long withdrawal process.

He then deposited all 5,145 ETH ($13.3M) into Binance for sale.”

Lookonchain spotted another whale similarly depositing nearly $50 million in ETH to sell on Coinbase, the biggest crypto exchange in the US.

“A whale is selling 19,000 ETH ($49.17M)!

This whale requested a withdrawal of 30,007 Lido Staked Ether (stETH) ($78.67M) 4 days ago and claimed 19,000 ETH ($49.17M).

And the whale is depositing the 19,000 ETH ($49.17M) to Coinbase to sell!”

Another two whales were seen selling 8,208 ETH worth $21.59 million in order to repay debts on lending platform Aave to avoid being liquidated.

And an additional whale, originally buying ETH well above $3,000 in March and April, apparently capitulated and has been selling their holdings at a loss on Binance.

“Another whale sold 5,088 ETH ($13.58M) at a loss of $3.66M.

This whale withdrew 5,088 ETH ($17.24M) from Binance at $3,389 from Mar 28 to Apr 3.”

Ethereum reached its high for the year at $4,115 in March, and is now down to $2,583 at time of writing.

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Check Price Action

Follow us on X, Facebook and Telegram

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Whales Sell Off Massive Amounts of Ethereum (ETH) As Crypto Markets Break Down appeared first on The Daily Hodl.