{"id":646367,"date":"2024-10-05T20:30:09","date_gmt":"2024-10-05T20:30:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=646367"},"modified":"2024-10-07T13:48:57","modified_gmt":"2024-10-07T13:48:57","slug":"ethereum-ico-participant-offloads-6000-eth-as-bearish-sentiment-intensifies","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-ico-participant-offloads-6000-eth-as-bearish-sentiment-intensifies\/","title":{"rendered":"Ethereum ICO Participant Offloads 6,000 ETH As Bearish Sentiment Intensifies"},"content":{"rendered":"

According to data from CoinMarketCap<\/a>, the price of Ethereum slipped by 10.23% over the last seven days in line with the general market negative movement. This crypto market downturn has been attributed to multiple factors including heightened geopolitical tensions<\/a> in the Middle East and rising liquidations of long positions.\u00a0<\/span><\/p>\n

While Ethereum has experienced some rebound in the last day gaining by 3.21%, investors remain uncertain of a full price recovery with bearish sentiments raving through the market. Notably, an Ethereum ICO participant has now sold off a substantial amount of ETH intensifying concerns of a prolonged downward trend.
\n<\/span><\/p>\n

Related Reading: Ethereum At Risk Of Further Decline: Top Investor Sets $2,150 Target If Support Breaks<\/a><\/div>\n

Ethereum ICO Wallet Continues Selling Spree, Offloads 40,000 ETH In Two Weeks<\/strong><\/h2>\n

According to data from blockchain analytics firm<\/a>, Lookonchain, an Ethereum wallet with the address \u201c0xBF4\u201d moved 6,000 ETH worth $14.11 million to the Kraken exchange on Friday. So far, the address has been identified as an early Ethereum investor who acquired 150,000 ETH valued at $368 million in the asset\u2019s initial coin offering (ICO) in 2014.<\/span><\/p>\n

Data from Lookonchain highlights this is the second ETH sale by \u201c0xBF4\u201d in the last week after the ICO participant initially sold 19,000 ETH, valued at $47.54 million over Wednesday and Thursday. Notably, this ETH whale has transferred<\/a> out 40,000 ETH worth $101 million since September 22, holding a balance of 99,500 ETH valued at $238 million.<\/span><\/p>\n

Generally, massive token offloads by large holders e.g. whales are interpreted as bearish signals as they indicate a lack of confidence in the asset\u2019s long-term profitability. Sales such as those seen from \u201c0xBF4\u201d may trigger a panic selling from smaller investors inducing a stronger downward pressure on Ethereum\u2019s price.<\/p>\n

\n
\"Bitcoin\"
Source: Lookonchain<\/figcaption><\/figure>\n

Related Reading: Crypto Capo Returns After 2 Months To Predict Ethereum Decline To $1,800, Is It Time To Go Long?<\/a><\/p>\n<\/div>\n

108,000 ETH Moved To Exchanges In 24 Hours<\/strong><\/h2>\n

Aside from the wallet address \u201c0xBF4\u201d, other investors have recently sold off large amounts of ETH. According to analyst Ali Martinez<\/a>, 108,000 ETH valued at $259.2 million have been transferred to exchanges in the last day. This massive sale activity indicates a heightened sentiment in the ETH market.\u00a0<\/span><\/p>\n

Currently, Ethereum trades at $2,399 following its recent price rally. However, its daily trading volume has declined by 17.48% and is valued at $14.61 billion. If bearish sentiments persist, ETH could retrace to around $2,200<\/a> at which lies its next significant support price level. However, amidst massive selling pressure, the altcoin could trade as low as $1,600.<\/span><\/p>\n

With a market cap of $291.40 billion, Ethereum continues to rank as the second largest cryptocurrency, with a market dominance of 13.47%.<\/p>\n

\"Ethereum\"
ETH trading at $2,398 on the daily chart | Source: ETHUSDT chart on Tradingview.com<\/figcaption><\/figure>\n

Featured image from NullTX, chart from Tradingview<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

According to data from CoinMarketCap, the price of Ethereum slipped by 10.23% over the last seven days in line with the general market negative movement. This crypto market downturn has been attributed to multiple factors including heightened geopolitical tensions in the Middle East and rising liquidations of long positions.\u00a0 While Ethereum has experienced some rebound in the last day gaining by 3.21%, investors remain uncertain of a full price recovery with bearish sentiments raving through the market. Notably, an Ethereum ICO participant has now sold off a substantial amount of ETH intensifying concerns of a prolonged downward trend. Related Reading: Ethereum At Risk Of Further Decline: Top Investor Sets $2,150 Target If Support Breaks Ethereum ICO Wallet Continues Selling Spree, Offloads 40,000 ETH In Two Weeks According to data from blockchain analytics firm, Lookonchain, an Ethereum wallet with the address \u201c0xBF4\u201d moved 6,000 ETH worth $14.11 million to the Kraken exchange on Friday. So far, the address has been identified as an early Ethereum investor who acquired 150,000 ETH valued at $368 million in the asset\u2019s initial coin offering (ICO) in 2014. Data from Lookonchain highlights this is the second ETH sale by \u201c0xBF4\u201d in the last week after the ICO participant initially sold 19,000 ETH, valued at $47.54 million over Wednesday and Thursday. Notably, this ETH whale has transferred out 40,000 ETH worth $101 million since September 22, holding a balance of 99,500 ETH valued at $238 million. Generally, massive token offloads by large holders e.g. whales are interpreted as bearish signals as they indicate a lack of confidence in the asset\u2019s long-term profitability. Sales such as those seen from \u201c0xBF4\u201d may trigger a panic selling from smaller investors inducing a stronger downward pressure on Ethereum\u2019s price. Related Reading: Crypto Capo Returns After 2 Months To Predict Ethereum Decline To $1,800, Is It Time To Go Long? 108,000 ETH Moved To Exchanges In 24 Hours Aside from the wallet address \u201c0xBF4\u201d, other investors have recently sold off large amounts of ETH. According to analyst Ali Martinez, 108,000 ETH valued at $259.2 million have been transferred to exchanges in the last day. This massive sale activity indicates a heightened sentiment in the ETH market.\u00a0 Currently, Ethereum trades at $2,399 following its recent price rally. However, its daily trading volume has declined by 17.48% and is valued at $14.61 billion. If bearish sentiments persist, ETH could retrace to around $2,200 at which lies its next significant support price level. However, amidst massive selling pressure, the altcoin could trade as low as $1,600. With a market cap of $291.40 billion, Ethereum continues to rank as the second largest cryptocurrency, with a market dominance of 13.47%. Featured image from NullTX, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":646369,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[86916,1946,8686,78803,93150],"class_list":["post-646367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth-selloff","tag-ethereum","tag-ethusd","tag-ethusdt","tag-ico-participant"],"acf":[],"yoast_head":"\nEthereum ICO Participant Offloads 6000 ETH As Bearish Sentiment Intensifies<\/title>\n<meta name=\"description\" content=\"Notably, an Ethereum ICO participant has now sold off a substantial amount of ETH intensifying concerns of a prolonged downward trend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a \u201cmusic nomad\u201d always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.","sameAs":["https:\/\/www.linkedin.com\/in\/semilore-faleti-7a9046218","https:\/\/x.com\/https:\/\/twitter.com\/SemiloreFaleti"],"url":"https:\/\/ktsl888.com\/author\/semilorefaleti\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum ICO Participant Offloads 6,000 ETH As Bearish Sentiment Intensifies","url":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-ico-participant-offloads-6000-eth-as-bearish-sentiment-intensifies\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ethereum\/ethereum-ico-participant-offloads-6000-eth-as-bearish-sentiment-intensifies\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/10\/ethereum-bear.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/10\/ethereum-bear.jpg?fit=1280%2C853"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Semilore Faleti"}],"creator":["Semilore Faleti"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth selloff","ethereum","ethusd","ethusdt","ico participant"],"dateCreated":"2024-10-05T20:30:09Z","datePublished":"2024-10-05T20:30:09Z","dateModified":"2024-10-07T13:48:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum ICO Participant Offloads 6,000 ETH As Bearish Sentiment Intensifies\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-ico-participant-offloads-6000-eth-as-bearish-sentiment-intensifies\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ethereum\\\/ethereum-ico-participant-offloads-6000-eth-as-bearish-sentiment-intensifies\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/ethereum-bear.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/ethereum-bear.jpg?fit=1280%2C853\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Semilore Faleti\"}],\"creator\":[\"Semilore Faleti\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth selloff\",\"ethereum\",\"ethusd\",\"ethusdt\",\"ico participant\"],\"dateCreated\":\"2024-10-05T20:30:09Z\",\"datePublished\":\"2024-10-05T20:30:09Z\",\"dateModified\":\"2024-10-07T13:48:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/10\/ethereum-bear.jpg?fit=1280%2C853","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/646367"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/581"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=646367"}],"version-history":[{"count":6,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/646367\/revisions"}],"predecessor-version":[{"id":646758,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/646367\/revisions\/646758"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/646369"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=646367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=646367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=646367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}