Ethereum seems to be expecting another dump as over $25 million worth of Ethereum has been moved to various exchanges.
$25 M Ethereum on the move
As reported by ViewBase over 200,000 ETH has been sent to various exchanges. Almost 90 percent of it was sent to Huobi and Kraken while around 26,000 tokens were sent to Binance exchange.
It might be the move of one whale with a large number of coins in his portfolio. It is unclear who sent these tokens to the exchanges. Regardless there is a huge chance that the amount would be dumped through these platforms. If this occurs to be true Ethereum’s price might take a hit and face greater selling pressure.
This is not the first time whales have appeared on Ethereym network. Although the Ethereum network does not frequently see activity from whales as much as Bitcoin does, it still hosts its shares of high-profile investors. Previously, Ethereum coins worth tens of millions of dollars were moved from the pre-sale account of an ICO participant. Read More...