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    Home ยป Ethereums Value Decline Sparks Major Selloffs Amongst Whales on Compound and Aave Platforms
    Ethereum

    Ethereums Value Decline Sparks Major Selloffs Amongst Whales on Compound and Aave Platforms

    By adminJul. 5, 2024Updated:Jul. 15, 2024No Comments2 Mins Read
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Ethereums Value Decline Sparks Major Selloffs Amongst Whales on Compound and Aave Platforms
    Certainly Heres a creatively reexpressed title for the news Ethereums Value Decline Sparks Major Selloffs Amongst Whales on Compound and Aave Platforms
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    $ETH Continues Slide, Whales Prepare for Liquidation

    The recent downturn of Ethereum’s prominent cryptocurrency, $ETH, is paving the way for significant developments in the market. According to Lookonchain, a leading on-chain analytics firm, numerous large investors, known as whales, are taking steps to liquidate their holdings of $ETH due to the current high volatility.

    As the price of $ETH experiences a sharp decline, several whales are preparing to liquidate their $ETH assets held in platforms like #Aave and #Compound.

    Lookonchain disclosed via its official social media account that three such whales have recently executed substantial transactions in response to this market volatility.

    Market data highlights that Ethereum has seen a notable drop in price, plummeting by 10.25%. This marks the largest single-day decline since November 9th, 2022. The decrease has also impacted Ethereum’s market capitalization, which now stands at $360.89 billion, reflecting a decline of 17.62%.

    The whales’ actions included depositing a total of 28,558 $ETH tokens into #Binance in just two hours, subsequently selling them to cover debts, amounting to approximately $82.8 million.

    Over the past 24 hours, Ethereum’s trading range has fluctuated between $2,896.05 and $3,108.66. Additionally, the cryptocurrency has experienced a 12.95% decrease in value over the last week. These factors have contributed to the decisions made by the aforementioned whales to manage their $ETH holdings actively.

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