Ethereum Price Plummets 5%: Why Is ETH Going Down?
Posted On December 19, 2024
Ethereum’s (CRYPTO: ETH) 5% drop on Thursday has sparked speculation among traders about its ability to recover and close above the critical $3,700 mark by year-end.
What Happened: Lookonchain data highlights a skilled whale, possibly associated with LonglingCapital, who purchased 6,000 ETH during a price dip. Known for impeccable timing, the whale has amassed $83 million in profits.
Since May 8, 2023, the whale has acquired 75,400 ETH (worth $180.4 million at an average of $2,392) and sold 50,800 ETH (worth $172.8 million at an average of $3,401).
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Ethereum (CRYPTO: ETH) | $3,612.85 | $435.1 billion | -6.7% | -8.9% |
| Bitcoin (CRYPTO: BTC) | $100,537.58 | $1.98 trillion | -3.7% | -1.3% |
| XRP (CRYPTO: XRP) | $2.32 | $132.7 billion | -6.1% | -4.1% |
Trader Notes: Trader MaxBecauseBTC, in a recent post on X, outlined two scenarios …
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