Whale dump 3,075 ETH for $4,310, keep 15,708 ETH
According to Onchain Lens data, one big whale address don sell 3,075 ETH for average price of $4,310 per coin, dem convert about $13.25 million into DAI. After the sale, the address still get 15,708 ETH, wey value around $67.82 million for current market price. The on-chain activity show say the whale fit still do more liquidation. This big transaction show heavy supply-side pressure for Ethereum network and e fit affect market volatility. Traders suppose dey watch how whales dey move and liquidity metrics for short-term price impact.
Bearish
Big-big ETH sales wey whales dey do before dey usually happen wit short-term price drops because e dey increase sell-side pressure. For dis case, di change of 3,075 ETH to DAI for $13.25 million likely put near-time downward momentum for Ethereum trading pairs. Even though di whale still get 15,708 ETH, di remaining balance fit mean say dem fit still dey sell more, wey fit keep di market bearish if e happen. Traders fit remember similar tins wey happen before—like di whale dump for March 2023—wey come before ETH price drop for like 5-7%. But di long-term effects dey depend on bigger tins like network upgrades and demand from DeFi and big investors. Overall, di market go likely react in negative way first, wit more wahala in prices and possible price fall, while di future after short-term go still dey depend on wetin di whales go do and how economy go be.