Price: $0.19310 -1.4106%
Market Cap: 28.33B 1.1241%
Volume (24h): 4.56B 0.2%
Dominance: 1.1241%
Price: $0.19310 -1.4106%
Market Cap: 28.33B 1.1241%
Volume (24h): 4.56B 0.2%
Dominance: 1.1241% 1.1241%
  • Price: $0.19310 -1.4106%
  • Market Cap: 28.33B 1.1241%
  • Volume (24h): 4.56B 0.2%
  • Dominance: 1.1241% 1.1241%
  • Price: $0.19310 -1.4106%
Home > Information news > Ethereum Whale Faces Liquidation, ETH Price Nosedive

Ethereum Whale Faces Liquidation, ETH Price Nosedive

Release: 2024/07/05 01:03 Reading: 902

Original author:Coingape News Media

Original source:https://coingape.com/?p=205956

Ethereum Whale Faces Liquidation, ETH Price Nosedive

Ethereum Whale Faces Liquidation as Prices Dip

A prominent Ethereum whale is nearing liquidation due to the ongoing decline in ETH prices. The whale deposited 12,374 ETH into Compound and borrowed $31.4 million in stablecoins. If Ethereum's price falls to $2,984, the whale's long positions will be liquidated.

Ethereum is currently trading at $3,124, down from $3,500 earlier this week. The 10.42% decline since Monday has raised concerns about the whale's potential liquidation. The situation worsened on with a 3.03% drop, followed by a slight rise and another 3.09% decline.

Crypto Market Volatility

The market turmoil has seen significant activity among large holders. Another whale recently purchased 9,425 ETH worth over $30 million from Binance. This wallet also made significant altcoin purchases, totaling $120 million.

The acquisition included BNB, MATIC, LINK, AVAX, and meme coins like Shiba Inu, Dogecoin, Pepe Coin, and Floki. The ETH purchase was the largest transaction.

Ethereum's price drop follows Bitcoin's recent decline. Sales from major players and miners have driven Bitcoin lower since Monday. Analyst Charles Edwards has observed increased selling by long-term Bitcoin holders.

Glassnode data indicates a 374,000 Bitcoin negative flow, representing approximately $24 billion worth of Bitcoin being sold. Additionally, the U.S. and German governments have sold large amounts of Bitcoin and Ethereum.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.