Key Takeaways:
- Whales have offloaded over 500,000 ETH in the past 48 hours, intensifying selling pressure.
- ETH’s dominance has plunged to 8%, marking a 60% drop since mid-2023.
- Record-low fees and burn rates post-Dencun upgrade have worsened ETH’s inflation problem.
Ethereum’s recent price movement may seem calm on the surface, but a deeper look reveals rising undercurrents. In the last 48 hours, top market observer Ali drew attention to a major selloff by a big investor, with over 500,000 ETH being unloaded, according to data on-chain by Santiment.
This precipitant offloading places significant stress on the asset, which already suffers from systemic issues. Even as ETH prices ticked up briefly by 1.55% over the past four hours to $1,797.07, the context is alarming.
This short-term rebound does little to counteract the long-term downtrend in Ethereum, especially if big players are selling out. Although…
