Over the past three months, Ethereum has seen record-breaking sales. Glassnode’s data shows that long-term holders and large players («whales») started selling Ethereum during this year’s crypto market crash.
ETH has fallen by 43% since the beginning of the year, initially reaching a price of $3,744 before falling to its current level of $1,872. According to CryptoQuant CEO Ki Young Ju, Ether not only experienced a record level of active sales — it was the highest in the last 5 years.
Since 2020, the price of ETH has dropped below $1,900 only a few times.
An interesting fact: Donald Trump’s son Eric, who wrote last month that now is «the best time» to buy ETH, deleted part of that post. Namely, the part where he asked his followers to thank him for his financial advice. It was in early February when World Liberty Financial (WLFI), a financial crypto project associated with US President Donald Trump, was reportedly purchased a large amount of ETH.
After Eric Trump’s announcement, the price of ETH rose by 5.5%: from $2,748 to almost $2,900.
In addition, a major Ethereum update has been postponed due to a recently discovered vulnerability which further undermined confidence in the cryptocurrency.
Source: CryptoQuant