• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ledger CTO Warns Of Crypto Clipper Malware Following Major NPM Breach
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ledger CTO Warns Of Crypto Clipper Malware Following Major NPM Breach
Ethereum

Smart Ethereum Whale Sells $41 Million ETH Before Market Crash: Report

Semilore Faleti
by Semilore Faleti
2 years ago
·
Posted in Ethereum
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In the last week, CoinMarketCap reports that Ethereum (ETH) has lost 10.31% of its value marking a highly negative performance for the prominent altcoin. However, most of this price loss was driven by a general market crash on Thursday, which saw about $1 billion wiped out from the total crypto market cap. 

Interestingly, prominent on-chain analytics firm, Lookonchain reports that a particular “smart” whale was able to avoid this market turmoil by liquidating a substantial amount of ETH right before the market crashed. 

Related Reading: Ethereum Open Interest Rises, Are Shorts Piling Up?

Ethereum Whale Dumps 22,341 ETH Ahead Of Major Market Loss

According to a social media post on Friday by Lookonchain, a certain crypto whale sold 22,341 ETH, valued at roughly $41 million, just prior to the crypto market downturn this week. Lauding this liquidation move, the analytics team describes the investor to be “very smart.”

However, while this whale may have avoided the general market crash, Lookonchain reported they still recorded losses to the tune of $1.7 million. 

The whale was very smart and dumped 22,341 $ETH ($41M) before the market crashed.

Even though he lost ~$1.7M this time, he successfully avoided the market crash.

Perhaps he will buy $ETH back at a cheaper price in the future.

Follow this smart whale.👇https://t.co/S4Wv8XRlhW pic.twitter.com/BcdzdpmbIA

— Lookonchain (@lookonchain) August 18, 2023

As earlier stated, the crypto market suffered a widespread loss on Thursday, with most assets experiencing significant price dips. Based on multiple reports, this market downtrend was triggered by news of aerospace company SpaceX liquidating all its Bitcoin (BTC) holdings valued at $373 million. 

As many would predict, this led to a massive market sell-off, with Bitcoin’s price declining by 12% to trade around $25,400. ETH, among other cryptocurrencies, followed Bitcoin’s trajectory falling from $1,808 to trade as low as $1,615. 

Notably, the ETH market also experienced the largest single liquidation order on Thursday, worth about $55.92 million. In total, the ETH market recorded approximately $308 million in liquidations. 

Related Reading: Ethereum Futures ETFs Could Soon Get SEC Nod, Insiders Say

ETH Could Receive Market Boost Soon

In other news, the ETH market could record massive profits in the coming months based on news regarding the Ether-futures ETFs race in the US. 

On Friday, Bloomberg reported that the United States Securities and Exchange Commission is ready to approve the first Ether-future ETF in the US, marking a major win for the crypto space. 

Over the last few weeks, several asset managers have filed applications with the financial regulator to offer Ether-futures ETFs to investors in the US. These firms include Bitwise, ProShares, Grayscale, VanEck, Valkryie, etc.

Although it remains unknown which applications are getting immediate approval, anonymous sources close to the matter state that most applications would be cleared by October.

On the emergence of this news on Friday, Ethereum showed signs of recovery from Thursday’s crash, rising by 5% but soon hitting a strong resistance at the $1,700 zone.

According to data from CoinMarketCap, ETH is currently trading at $1,661.23, with a 1.67% loss over the last day. 

Meanwhile, the token’s trading volume is down by 51.98% and is valued at $7.57 billion. With a market cap of $199.71 billion, Ethereum also remains the second-largest cryptocurrency in the world. 

Ethereum

ETH trading at $1,661.4 on the daily chart | Source: ETHUSD chart on Tradingview.com
Featured image from SciTechDaily, chart from Tradingview.
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Semilore Faleti

Semilore Faleti

Follow

Semilore Faleti works as a crypto-journalist at Bitconist, providing the latest updates on blockchain developments, crypto regulations, and the DeFi ecosystem. He is a strong crypto enthusiast passionate about covering the growing footprint of blockchain technology in the financial world.

Full Profile

Related Posts

Ethereum

Pundit Says ‘Ethereum Is Dying’ As Fundamentals Collapse By Over 40% — Details

13 hours ago
Ethereum news how rich is Vitalik Buterin

How Rich Is Ethereum Co-Founder Vitalik Buterin Really? Arkham’s 2025 Report

1 day ago
Ethereum ETFs

US Ethereum ETFs Surpass Weekly Record With $787M Outflow — Details

1 day ago
Ethereum

Ethereum Holdings On Centralized Exchanges Plummet —  Supply Shock Imminent?

1 day ago
Ethereum

Ethereum Staking In Focus: SharpLink Considers Linea For Treasury Yield – Details

2 days ago
3 Fresh Wallets Buy $148.8M Ethereum – Silent Stacking

3 Fresh Wallets Buy $148.8M Ethereum – Signs Of Silent Stacking

3 days ago

Premium Sponsors

Press Releases

  • miner

    From simply holding coins to earning steady daily returns...

    44 minutes ago
  • Ex-Wealth Manager Théo Vaucher Leaves Wealth Management to...

    2 hours ago
  • miner

    COME Mining cloud mining is becoming a new way to play with...

    12 hours ago
  • How ALL4 Mining Cloud Mining Unleashes XRP’s...

    12 hours ago
  • Domain Scams

    Scam Coinomize Domains: How to Spot and Stop Domain Scams

    14 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.