Smart Money Wallet Don Land $36.6M from $138M Ethereum Sell-Off
One anonymous Smart Money Wallet lead one $138 million Ethereum sell-off by selling 38,582 ETH dis week. On-chain analysis show say e acquire 77,700 ETH for Kraken since early 2024 at average cost of $2,600 per token.
By selling at average price of $3,577, the wallet secure $36.6 million profit. E still hold 25,054 ETH, mainly deposit for Aave for ongoing DeFi strategies.
This big scale Ethereum sell-off show say smart traders dey take profit and rebalance their portfolio. Even though such sale fit cause short-term downward pressure for ETH prices, deep liquidity and steady demand fit absorb the supply without big wahala.
Traders suppose track the Smart Money Wallet movements, use on-chain analytics, and apply disciplined strategies like diversification and dollar-cost averaging to navigate potential market changes.
Neutral
Even though di Smart Money Wallet dem dey sell Ethereum fit cause short-term downward pressure becos e go increase token supply, di strong liquidity and persistent demand for ETH markets dey show say dem go absorb di sale without e trigger long-term downturn. Profit-taking and portfolio rebalancing by big traders na normal market behavior, no be sign say market go dey bearish for long. Traders suppose dey watch well well, because big on-chain movements fit affect sentiment and short-term volatility, so dem suppose follow correct risk management rules.