An Ethereum whale sold 76,000 ETH, with the sale occurring right before news broke. Meanwhile, BlackRock added 10,955 ETH to its ETF, but ETH’s price remains relatively unchanged at around $1,827, with critical support at $1,813.
In an unexpected turn of events, an Ethereum (ETH) “ICO whale” has divested its entire holding of 76,000 ETH, originally acquired during Ethereum’s initial coin offering back in 2015. This sale occurred just half an hour before the news went public, stirring up quite the chatter in cryptocurrency circles.
Following the sale, the whale promptly moved approximately 2,000 ETH, valued around $3.66 million, to the Kraken cryptocurrency exchange. This abrupt liquidation has sparked intrigue, raising questions about what might have prompted such a significant cash-out after nearly a decade of holding.
Coincidentally, on the very same day, BlackRock—the largest asset management firm globally—added 10,955 ETH to its Ether ETF, a move worth an estimated $20.1 million. This addition builds on BlackRock’s previous Ethereum investment of about $54 million, alongside their significant wager of nearly $674.91 million into Bitcoin-related ETFs.
Interestingly enough, despite these notable actions, Ethereum’s price has remained relatively stagnant. Currently, ETH is trading around $1,827, according to data from CoinMarketCap. Although Ethereum managed to inch toward $1,872 earlier, it faced a decline, dropping to about $1,813, a level that now appears to be acting as short-term support.
Should the price of ETH maintain above the $1,813 mark, analysts suggest it might target the $1,925 threshold. On the flip side, a drop below $1,813 could see traders revisiting the low of $1,732 observed on April 30. So far, the support level at $1,813 has held firm, but a significant breakout hasn’t materialised just yet.
Additionally, there are murmurs about Shiba Inu (SHIB) as well, with reports stating a staggering 22,604% increase in its burn rate, raising speculation about a potential price rally of around 15%.
