Yuga exec warns about ‘true bear market’ Ether price as whales scramble

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Coin Telegraph 1d ago

Yuga exec warns about ‘true bear market’ Ether price as whales scramble - Coin Telegraph

Quick Summary:

On March 11, CoinGecko data showed that ETH prices went to a low of $1,791 on a 22% decline in the past seven days. Because of the sharp price changes, ETH whales moved millions of dollars in ETH to protect their positions against potential liquidation. Blockchain analytics firm Lookonchain flagged an ETH whale dumping $47.8 million and losing $32 million to avoid being liquidated.

Lookonchain said the whale’s $121 million balance was being liquidated as the price dropped below $1,800. A whale account suspected of being linked to the Ethereum Foundation also used $56 million in ETH to avoid liquidation amid the price drop.

The ETH investor said that, unlike previous cycles, Ether has been adopted by institutions and has a maturing ecosystem. “Positioning for both scenarios is what every smart investor should done, but being too bearish at the wrong time can cost just as much as being overly bullish,” they wrote.