Price of ETH remains unaffected, however, activity on Ethereum’s ecosystem poses concerns.started to get stagnant around the $3500 price level. Due to this stagnancy, many holders decided to indulge in profit-taking.According to recent data, an initial holder of ETH exchanged 17,770 ETH for 62.24 million DAI at a rate of $3,503 per ETH.
However, the overall impact depends on market sentiment. If the sale triggers panic selling, the price could drop further. But, if the market views it as a healthy correction or the whale is simply taking profits, the price could stabilize or even rebound as others see a buying opportunity.At press time, ETH was trading at $3,571.59, marking a 27% difference from its all-time high. The price of ETH had tested the $3674.23 levels twice over the last few weeks.
Source: Digital Coin News (digitalcoinnews.net)
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