On May 7, two whales dumped 19,090 ethereum (ETH), valued at approximately $35.7 million, on Uniswap.
Highlights
- On May 7, two whales dumped 19,090 ethereum (ETH), valued at approximately $35.7 million, on Uniswap.
- The sales came after Vitalik Buterin sold coins worth roughly $30 million on Kraken, a U.S.-based centralized exchange.
- The panic may have set in when the first whale converted 9,950 ETH for 18.63 million DAI.
- Shortly after, another whale dumped 9,140 ETH for 17.07 million.
- The last time the Ethereum Foundation sold its holdings, ETH slipped into a prolonged bear market.
- It is yet to be seen whether prices are currently peaking and if sellers will force the coin lower in the sessions ahead.
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