Ethereum falls below $ 2.6,000 because Wale ETH repulses

• Ethereum has fallen by more than 5 % in the last 24 hours and is traded under $ 2,600 because old coins show weakness.
• The decline of the top altercoin to low-levels of $ 2,560 on Tuesday was in the course of massive WAL activities, which were largely carried out in the past few hours.

whales throw Ethereum off

On August 27, 2024, Ethereum co-founder Vitalik Buterin sent 199.9 ETH worth over $ 517,000 to a multi-signature wallet. Details indicate a donation to ethos, a project that is supposed to develop a mobile Ethereum operating system.

This transfer is remarkable, but fades compared to some of the greatest whale movements of the past 24 hours.

Earlier a day, Lookonchain pointed out a possible drainage of $ 49 million through a whale that had transferred 19,000 ETH to Coinbase. The WAL initially called for the transfer of over 30,000 Steth-the ETH token used-with this withdrawal at that time to be over $ 78.67 million.

a whale sells 19,000 $ ETH (49.17 million $)!

This whale called for a payment of 30.007 $ Steth (78,67 million and 4 days ago) stressed 19,000 $ eth (49.17 million $) ago.

and the whale deposits the 19,000 $ eth (49.17 million USD) to #coinbase for sale! href = "https://t.co/bujnxac1kf"> https://t.co/bujnxac1kf pic.twitter.com/ndb9ow5HXM

- Lookonchain (@lookonchain) 27. August 2024

lookonchain also emphasized another wal 2.3 ETH had to accept just to have the tokens available for sale immediately. On-chain data show that the WAL address has deposited 5,145 ETH tokens at Binance. This deposit and the potential sale were worth over $ 13.3 million at the time of the transfer.

But that's not all. Two whales also sold 8,208 ETH worth over $ 21.5 million, while the Ethereum Prize fluctuated at $ 2,630. According to an on-chain analysis, the whales have repelled their ether in order to receive money for the repayment of debt from the decentralized credit protocol AAVE. The whales sold to "avoid a liquidation", Lookonchain

The “whale dumping” has also taken place with loss in the last 24 hours. A large owner sold 5,088 ETH for $ 13.58 million. The "whale" made a loss of $ 3.66 million after he had deducted the coins from Binance in March and April of this year. The value of the stocks was around $ 17.24 million.

Ethereum price diagram. Source: tradingView

ETH has experienced a downturn that currently holds the price below $ 2,600. In fact, the leading cryptocurrency on Coinbase fell to low -levels of USD $ 2,558, with RSI and MacD indicate that the bears have the upper hand.