Should you go short on Ethereum? These whales suggest…

, three whales reportedly liquidated a total of 26,946 ETH in the past four days to book nearly $40 million in profits.on the 16th of March. The price of ETH at that time was $3,733. Selling fetched the whale a total profit of over $25 million.Notably, ETH’s supply on exchanges rose 5% since Dencun. Around the same time, key whale wallets, such as those holding between 10,000–1 million coins, dropped considerably.

Secondly, the odds of spot ETH exchange-traded fund approval were reducing with each passing day, something which AMBCrypto alsoThis was further exemplified through Hyblock Capital’s Whale vs. Retail Delta indicator. As seen below, whales lowered their long exposure drastically over the past week.Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains.

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