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Ethereum priceCoinGape
•Business
Business & Economics
66% Informative
28,999 ETH valued at approximately $45.2 million were sold at an average price of $ 1,559 per ETH .
The sale was reportedly conducted to repay outstanding debt.
An Ethereum OG’ sold 10,702 ETH worth approximately $16.86 million after two years of wallet inactivity.
Analyst TraderPA has taken a bullish stance and described the current situation as a “ Golden Opportunity ”.
Institutional demand, usually considered the prime mover behind price stability, also seems to be declining with $94.1 million of ETF outflows in a span of two weeks .
This outflow indicates bigger investors might be cutting down on their Ethereum exposure.
The multiple analyses come at a time when the Ethereum price is hovering at the $ 1,500 level.
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