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Ethereum Faces Intense Selling Pressure: Will The Whales Sell Their Holdings?

Author: Qadir AK

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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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WhaleAlert’s tweets have revealed that more than 270k Ethereum has been sent to central exchanges in just about 2 hours. The first transaction happened about 4 hours ago and it totalled over 20k ETH that was sent to FTX. At first, 12,497 ETH worth $17 million was transferred, which was followed by 8,426 ETH worth over $11.5 million, transferred just 9 minutes later.

Soon after, WhaleAlert revealed that a whale had transferred 250,000 Ethereum worth over $338 million to Binance. It is important to note that crypto investors usually send their assets to exchanges with an intention of sell-off. 

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