An Ethereum ICO whale recently sold 3,367.5 ETH, equivalent to $10.16 million, as Ether’s price exceeded the $3,000 milestone. This significant move comes after the whale had held onto the Ethereum for eight years, creating ripples of concern and speculation among traders.
The whale's decision to liquidate a substantial part of its holdings highlights potential profit-taking behavior, especially as the crypto market experiences upward momentum. Despite the sizable sale, the whale still possesses 37,069.8 ETH, valued at approximately $112 million.
This action, while notable, is part of a broader trend observed among large crypto holders who seek to capitalize on price surges. The lingering question among market participants is whether this could signal a potential market correction or merely individual profit optimization strategies.
