Crypto Whale Sells Over $55M of Ethereum-Based Altcoin, Crushing Price: Analytics Firm

06/04 12:36

According to crypto analytics firm Santiment, a large entity, likely a crypto exchange, sold over $55 million worth of The Graph (GRT), an Ethereum-based indexing protocol, causing a mid-sized price correction. Santiment also notes that Ethereum is struggling to maintain its price structure as holders are quick to take profits. However, the firm suggests that Bitcoin (BTC) could play catch up with equities and other altcoins in the coming days, especially with the news that the US government has raised the debt ceiling. Santiment advises paying attention to altcoins moving into self-custody and avoiding those showing big inflows to exchanges.

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