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ETH Whales Shift Funds to Exchanges: A Price Dump in the Cards?

Published 28/08/2023, 11:12
ETH Whales Shift Funds to Exchanges: A Price Dump in the Cards?
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ETH/USD
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COIN
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  • Whale Alert shared that multiple whales have transferred ETH tokens to exchanges over the past day.
  • ETH’s price dropped by 0.45% in 24 hours, which left it trading hands at $1,642.19 at press time.
  • Technicals suggest ETH’s price is in danger of dropping even further in the coming week.

Ethereum (ETH) investors should look out for a possible price dump as multiple whales have transferred ETH tokens to exchanges over the past day. According to a Twitter post shared by the whale tracking dashboard, Whale Alert, a whale transferred 21,299 ETH tokens, worth about $35,295,226, from an unknown wallet to Coinbase (NASDAQ:COIN) yesterday.

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