Ethereum: 108,000 ETH Sent To Crypto Exchanges, Will Price Revisit $2,200?

Ethereum (ETH) has seen a 10.3% drop from last week’s highs following the recent market downturn. Its performance has worried many analysts and investors, considering ETH could be near another correction. Related Reading: Analysts Unfazed By Bitcoin (BTC) Drop, But Should We Fear October 5? Ethereum Whales Send Millions To Exchanges Ethereum has struggled to reclaim some key resistance levels since the October 1 correction. On Tuesday, the cryptocurrency saw its price nosedive from the $2,600 zone to the $2,300 mark, hovering between the lower and higher range of that support level for the past few days. Since then, news of multiple investors moving their tokens has hit the industry, alarming the community. On-chain analytics firm Lookonchain revealed that an Ethereum Initial Coin Offering (ICO) participant sold their tokens as the market bleed. Per the report, the whale deposited 12,010 ETH, worth $31.6 million, to Kraken a week ago after being inactive for two years. The same address sold another 19,000 ETH two days ago, around $47.54 million. Today, crypto analyst Ali Martinez highlighted that on October 3, roughly $259.2 million worth of ETH had be ..

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