A recent wallet activity has been quite alarming. The address that used a flash loan to go long on Ethereum just dumped another 5,000 ETH, cashing out $14.6 million.
To understand the extent, look back 11 days on the ledger — a total of 35,605 ETH sold, worth $103.7 million, with an average cost of $2,914 per ETH. This trade alone earned $13.14 million, with a very impressive profit margin.
The issue is that this guy's wallet still holds 15,000 ETH, with a paper value of $43.88 million. In other words, they've only sold half, and there could be bigger moves ahead. The continuous reduction of large holdings like this has a clear impact on market sentiment.
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RugDocScientist
· 12-27 03:55
Wow, this guy is really dumping the market. He hasn't finished dumping half of it yet, and it's going to explode next.
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GasWaster69
· 12-27 03:55
My big brother, is this running away or harvesting the leeks? Better to secure the 13.14 million USD in the bag, and the rest still dare to hold on...
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NeverVoteOnDAO
· 12-27 03:43
This guy made over 13 million and is still throwing money in. The remaining 15,000 coins haven't moved yet. Are you panicking?
A recent wallet activity has been quite alarming. The address that used a flash loan to go long on Ethereum just dumped another 5,000 ETH, cashing out $14.6 million.
To understand the extent, look back 11 days on the ledger — a total of 35,605 ETH sold, worth $103.7 million, with an average cost of $2,914 per ETH. This trade alone earned $13.14 million, with a very impressive profit margin.
The issue is that this guy's wallet still holds 15,000 ETH, with a paper value of $43.88 million. In other words, they've only sold half, and there could be bigger moves ahead. The continuous reduction of large holdings like this has a clear impact on market sentiment.