Ethereum 
$2,386The price of has fallen by over 12% in recent weeks, worrying investors. However, ETH found support at the bottom at $2,312 and rose 5% to $2,438 after the daily decline. This fluctuation was accompanied by news of an additional sale by a significant “whale” in the Ethereum ICO.
Whale Sold 6 Thousand ETH
According to blockchain analysis firm LookOnChain, an anonymous ICO whale recently sold 6,000 ETH for approximately $14.11 million. The whale currently has 99,500 ETH, which is worth $238 million at current prices. These large-scale sell-offs are fueling concerns among investors about price corrections.
Investor sentiment towards Ethereum appears to be weakening amid declining trading volumes and spot ETF initiatives. In the last week, Ethereum’s derivative transaction volume decreased by 34.97% to $21.94 billion. This decline indicates that interest in the market has decreased and liquidity may decrease, which may signal a negative outlook or consolidation process.
Benjamin Cowen stated that Ethereum’s supply has increased by 60,000 ETH per month since April 2024, and if this trend continues, the total supply will return to pre-Merge levels by the end of the year.
Ethereum Support Levels
With Ethereum’s recent decline, its price fell back to the critical support range between $2,440 and $2,252. If ETH price closes above $2,340, the middle of this range, it could signal stability and set the stage for a possible reversal. Market analysts suggest that if the $2,564 resistance level is breached, there is a possibility of a rally towards $3,000 or even $3,500.
Bitcoin 
$61,536This potential of ‘s performance is critical for the rally. Bitcoin’s stability in the range of $61,000 to $62,000 may increase investor confidence by providing support to Ethereum and other altcoins.
Vitalik Buterin, co-founder of Ethereum, proposed reducing the minimum ETH staking requirement from 32 ETH to 16 ETH in order to strengthen the ecosystem. This step aims to encourage greater participation in Ethereum’s proof-of-stake network.
Buterin’s proposal aims to ensure that the market has a more flexible and participatory structure in the face of current challenges. Investors think that such measures can bring long-term stability to the Ethereum ecosystem.
Recent developments in Ethereum are causing fluctuations in the crypto market and indicate that caution should continue among investors. Changes in fiat monetary policies and movements of big whales play an important role in determining the future of Ethereum price.
The recent increase in Ethereum’s supply and large-scale sales provide important clues to investors about the general health of the market and future price movements. Keeping a close eye on these dynamics can be useful for investors when making strategic decisions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
