By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Sony shares rise in choppy trade as PlayStation maker announces .7 billion share buyback
    Sony shares rise in choppy trade as PlayStation maker announces $1.7 billion share buyback
    May 14, 2025
    U.S. to cut tariffs on small packages from China to as low as 30% – National
    U.S. to cut tariffs on small packages from China to as low as 30% – National
    May 14, 2025
    A book points to Biden’s decline and Democrats’ cowardice: 6 takeaways
    A book points to Biden’s decline and Democrats’ cowardice: 6 takeaways
    May 14, 2025
    In one Indian city, reflective paint and bus stop sprinklers offer relief from killer heat
    In one Indian city, reflective paint and bus stop sprinklers offer relief from killer heat
    May 14, 2025
    Ousted Bangladesh PM Hasina’s party barred from election as party registration suspended
    Ousted Bangladesh PM Hasina’s party barred from election as party registration suspended
    May 14, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    Bitcoin Pepe nears .2M on Solana hype
    Bitcoin Pepe nears $8.2M on Solana hype
    May 14, 2025
    eToro prices IPO at , eyes Nasdaq amid shifting sentiment
    eToro prices IPO at $52, eyes Nasdaq amid shifting sentiment
    May 14, 2025
    Bitcoin (BTC) Still Dominates the Market With 3,000 Price Tag, But Investors Are Rushing to Get in On Ruvi AI (RUVI) Thanks to 100% Early Bonus and 20,000% Price Prediction
    Bitcoin (BTC) Still Dominates the Market With $103,000 Price Tag, But Investors Are Rushing to Get in On Ruvi AI (RUVI) Thanks to 100% Early Bonus and 20,000% Price Prediction
    May 14, 2025
    Dogecoin Price Completes Weekly Close Above Pre-Halving Highs, Next Stop Above alt=
    Dogecoin Price Completes Weekly Close Above Pre-Halving Highs, Next Stop Above $0.2?
    May 14, 2025
    Cantor Equity Partners (CEP) News: 4,812 Bitcoin Purchased
    Cantor Equity Partners (CEP) News: 4,812 Bitcoin Purchased
    May 14, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Ethereum falls below $2.6k as whales dump ETH
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Cryptocurrency > Ethereum falls below $2.6k as whales dump ETH
Ethereum falls below .6k as whales dump ETH
Cryptocurrency

Ethereum falls below $2.6k as whales dump ETH

Published August 28, 2024
Share
4 Min Read
SHARE

Contents
Whales dump EthereumETH whale dumps altcoin to avoid liquidationEthereum price falls below $2.6kShare this articleCategoriesTags
  • Ethereum is down more than 5% in the past 24 hours to trade below $2,600 as altcoins show weakness.
  • The top altcoin’s dip to lows of $2,560 on Tuesday however comes amid massive whale activity, most of which has happened in the last few hours.

Whales dump Ethereum

On August 27, 2024, Ethereum co-founder Vitalik Buterin sent 199.9 ETH worth over $517,000 to a multi-signature wallet. Details suggest a donation to ethos, a project that says its building an Ethereum mobile operating system.

While notable, this transfer pales in comparison to some of the largest whale movements seen in the past 24 hours.

Earlier in the day, Lookonchain pointed out a potential $49 million dump by a whale who had moved 19,000 ETH to Coinbase. The whale initially requested to transfer over 30,000 stETH – the staked ETH token, with this withdrawals amounting to over $78.67 million at the time.

A whale is selling 19,000 $ETH($49.17M)!

This whale requested a withdrawal of 30,007 $stETH($78.67M) 4 days ago and claimed 19,000 $ETH($49.17M) 30 minutes ago.

And the whale is depositing the 19,000 $ETH($49.17M) to #Coinbase to sell!https://t.co/bujNxac1Kf pic.twitter.com/ndB9Ow5hxM

— Lookonchain (@lookonchain) August 27, 2024

Lookonchain has also highlighted another whale who has exchanged more than 4,591 stETH for 4,589 ETH, taking a 2.3 ETH loss just to have the tokens available immediately for sale. On-chain data shows the whale address has deposited 5,145 ETH tokens to Binance. This deposit and potential sale was worth over $13.3 million at the time of the transfer.

ETH whale dumps altcoin to avoid liquidation

But that’s not all. Two whales also sold 8,208 ETH worth over $21.5 million as the Ethereum price hovered at $2,630. According to on-chain analysis, the whales moved to dump their Ether for funds to repay debts on decentralized lending protocol Aave. The whales sold to “avoid being liquidated”, Lookonchain noted.

Whale dumping has also happened at a loss in the past 24 hours, with one large holder selling 5,088 ETH for $13.58 million. The whale made a loss of $3.66 million after having moved the coins off Binance in March and April this year, with the value of the holdings at around $17.24 million.

In total, whales have dumped over $96 million worth of ETH in the past 24 hours.

Ethereum price falls below $2.6k

The price of Ethereum rose to highs of $2,808 on August 24, riding a bullish flip that also saw Bitcoin (BTC) break above $64,900.

Ethereum price chart. Source: TradingView

However, ETH has seen a downturn that currently has price hovering below $2,600. Indeed, the leading cryptocurrency fell to lows of $2,558 on Coinbase, with the RSI and MACD on the daily chart suggesting bears have the upper hand.


Share this article

Categories

Tags

#Ethereum #falls #2.6k #whales #dump #ETH

- Advertisement -
TAGGED:2.6kdumpETHEthereumfallswhales
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Johor bomb detonation exercise triggers landslide, 2 police officers in ICU Johor bomb detonation exercise triggers landslide, 2 police officers in ICU
Next Article Deadly Russian strikes pound Ukraine for a second day, as Ukraine advances in Kursk Deadly Russian strikes pound Ukraine for a second day, as Ukraine advances in Kursk
- Advertisement -

Latest Post

Sony shares rise in choppy trade as PlayStation maker announces .7 billion share buyback
Sony shares rise in choppy trade as PlayStation maker announces $1.7 billion share buyback
World News
Bitcoin Pepe nears .2M on Solana hype
Bitcoin Pepe nears $8.2M on Solana hype
Cryptocurrency
eToro prices IPO at , eyes Nasdaq amid shifting sentiment
eToro prices IPO at $52, eyes Nasdaq amid shifting sentiment
Cryptocurrency
U.S. to cut tariffs on small packages from China to as low as 30% – National
U.S. to cut tariffs on small packages from China to as low as 30% – National
World News
Bitcoin (BTC) Still Dominates the Market With 3,000 Price Tag, But Investors Are Rushing to Get in On Ruvi AI (RUVI) Thanks to 100% Early Bonus and 20,000% Price Prediction
Bitcoin (BTC) Still Dominates the Market With $103,000 Price Tag, But Investors Are Rushing to Get in On Ruvi AI (RUVI) Thanks to 100% Early Bonus and 20,000% Price Prediction
Cryptocurrency
A book points to Biden’s decline and Democrats’ cowardice: 6 takeaways
A book points to Biden’s decline and Democrats’ cowardice: 6 takeaways
World News
- Advertisement -

You Might Also Like

Fed Reveals New Rules for Dealing with Stablecoins in the…
Cryptocurrency

Fed Reveals New Rules for Dealing with Stablecoins in the…

August 11, 2023
Bitcoin Price (BTC) Gained 0.8% While Ether Price (ETH) Rose 0.6%
Cryptocurrency

Bitcoin Price (BTC) Gained 0.8% While Ether Price (ETH) Rose 0.6%

September 10, 2024
Memeinator and Dymension are thriving as crypto demand wanes
Cryptocurrency

Memeinator and Dymension are thriving as crypto demand wanes

February 8, 2024
SoMon Becomes Fastest-Growing Web3 Social App with 300,000 Transactions in Two Weeks
Cryptocurrency

SoMon Becomes Fastest-Growing Web3 Social App with 300,000 Transactions in Two Weeks

July 22, 2024

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?