Ethereum price’s meteoric rise was abruptly interrupted Saturday as a sizable amount of the digital asset was transferred to Binance exchange.
The transfer, which occurred at 1:30 AM Eastern Time, sent shockwaves through the market and raised concerns of a potential sell-off, causing ETH to lose a significant portion of its market value. Despite its earlier gains, the largest altcoin by market cap is now facing uncertainty as investors nervously await further developments.
Ethereum Price Rattled By Sudden Whale Move
Following a prolonged period of consolidation, Ethereum’s price broke out on March 10, and the altcoin has been off to an impressive start ever since, leading to a sharp increase in its value.