Ethereum Whale Sells $18.97M as Price Nears Multiyear Highs

An early Ethereum investor sold 4,283 ETH worth $18.97 million, continuing a multi-year selling pattern since 2021.

The investor has sold 44,284 ETH at an average of $2,378, generating about $105 million in total profits over recent years.

Ethereum trades at $4,670.70, with Standard Chartered now forecasting $7,500 by 2025 and $25,000 by 2028 on rising institutional demand.

An early participant in Ethereum’s 2014 initial coin offering has sold another large portion of holdings. Blockchain data shows the wallet, which purchased 100,000 ETH for approximately $31,000 during the ICO, transferred 4,283 ETH to the market. The transaction, valued at around $18.97 million, took place as Ethereum traded near its highest price in several years.

The same address has been reducing its position steadily over the past four years. Since 2021, the investor has sold a total of 44,284 ETH at an average price of $2,378. These disposals have resulted in profits estimated at about $105 million. Despite the substantial sales, the wallet still holds 55,716 ETH, which is currently valued at roughly $261.6 million.

Price Momentum and Market Valuation

Ethereum’s recent surge has pushed the token’s price to about $4,670.70, marking a gain of 6.05% over the last day. The rally has elevated Ethereum’s market capitalization to around $563.87 billion, placing it ahead of major corporations such as Netflix and Mastercard. Both individual traders and institutional buyers have been increasing their exposure in recent weeks.

The roles of institutional interest are increasing in the modern-day market arena. Standard Chartered has lowered its Ethereum price expectation and is now predicting the cryptocurrency to hit $7,500 by the end of 2025, as opposed to its previous predictions of the coin achieving a high of $4,000. The bank even raised its forecast in 2028 to 25,000 compared to its original forecast of 7,500 when it was identified that corporate reserves were increasing.

The present-day institutional holdings are approximately seven billion five hundred and ninety-nine million dollars. A mining company, BitMine, has declared intentions to buy 22 billion dollars of Ethereum, which accounts to about 5% of all available supply. Smaller but important investors such as Cathie Wood, the CEO of ARK Invest, continue to remain bullish about Ethereum in the long run.

Institutional players are geared up to attain sizeable purchases in a long-term holding situation. This conjunction is sustaining a high level of trading volumes and holding a high level of interest in the Ethereum market

The post Ethereum Whale Sells $18.97M as Price Nears Multiyear Highs appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

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