Recently, Arkham Intelligence released some shocking data on the cryptocurrency market, showing a significant loss for the WLFI wallet, which dumped 5.471 ETH and raised approximately $8 million, with an average value of $1.465 per coin. At the time of publication, the price of ETH was quoted at $1.448,32, up 8% in the last 24 hours.
This result marks a drastic drop compared to the group’s previous transactions, which saw it acquire 67.498 ETH for around $210 million, or $3.259 per unit. With Ethereum’s recent decline, WLFI is now facing an unrealized loss of around $125 million, with the last sale resulting in a deficit of $7,9 million due to the low transaction value of the cryptocurrencies.
The market is speculating on several reasons for this drastic move. Among the possibilities are the search for greater liquidity or the need to adjust portfolios in response to market volatility. Regardless of the reasons, this decision has left many analysts and investors intrigued and concerned about the direction of the crypto market.
In contrast, other large Ethereum investors have navigated the turbulent waters of the market differently. One notable whale, after holding 10.000 ETH for over 900 days, has made a profit of $2,75 million. This investor bought the coins in late 2022 for $13 million, at $1.295 each. He resisted the temptation to sell when Ethereum hit $4.000, at which point his profits could have reached as much as $27 million, opting instead for a more modest gain recently. At the same time, the market is watching other whales who have faced both significant gains and losses.
Ethereum’s recent plunge has been a cause for concern, with its value falling to $1.472, representing a depreciation of over 6% in a single day. According to analyst Ali Martinez, a price of $1.200 could be crucial to avoid an even steeper decline. Despite expectations of a recovery driven by Trump-linked policies, Ethereum has seen a decline of over 56% since January, raising questions about the cryptocurrency’s future.