The whale may have contributed to the earlier today decrease in the price of Ethereum, according to “Smart Money” tracker @lookonchain.
Whale likely caused ETH price drop
The clever whale transferred 25,000 ETH, or little more than $47 million, to the Binance exchange yesterday, according to a tweet from @lookonchain. He sold some of his Ethereum and withdrew 16 million USDT from the same exchange more than nine hours ago.
He may still have about 8,000 ETH available for sale that he is hoarding on Binance, representing a possible $14.7 million profit. @lookonchain predicted that the whale’s sell-off will probably have an effect on the price of ETH, bringing it down by over 1.8%.
But at this point, ETH has made up for the losses and even expanded more, showing an overall increase of 2.26%. Ethereum is now trading on the Binance platform for $1,867 per coin.
According to @lookonchain, the aforementioned whale is well-known to be a “smart whale” since he constantly buys cryptocurrency when its price is low and sells as soon as it surges, resulting in a “100% win rate in ETH trading.”
