Whales Accumulate As Ethereum Drops
According to data from Whale Alert, crypto whales are attracted by Ethereum’s new price drop. As a result, they are aggressively accumulating Ether. The report indicated that the whales had moved almost 400K ETH from several crypto exchanges. This figure shows that over $445 million has been transferred to many unknown wallets despite the price dip.
The whales moved about 300K ETH worth almost $333 million from Upbit to several wallets. The whale tracker pointed out the most significant transaction involving the addition of a $129.1 million price of Ether from Upbit.
Additionally, the tracker noted a whale accumulation of 99.99K ETH from the Bitfinex crypto exchange. The recorded transaction is worth about $12.4 million.
The recent whale attention and accumulation are coming as Ethereum recorded a massive drop in its price. At the time of writing, ETH is hovering around $1,132, indicating a 1% drop within the past 24 hours. Also, the token has suffered a massive drop of more than 12% in its value over the past seven days. Its market cap is now at $137.57 billion.

Ethereum’s trading volume has skyrocketed to over $11.9 billion in the last 24 hours. It indicated a more than 103% increase in a single day.
ETH Liquidation Hits Almost $40 Million
Records on liquidation over the past day are pretty on the higher side. As per Coinglass data, about 66,704 traders liquidated over $180 million of their positions in the crypto market within the past 24 hours.
Ethereum seems to take a more considerable liquidated value from the overall amount. The data highlighted that the traders liquidated almost $40 million from Ethereum. About 85% of the liquidated value is from long positions.
Also, the past few weeks show that Ethereum now underperforms Bitcoin. The primary crypto asset has recorded a drop of about 4% in its price over the past 24 hours.
At the press time, BTC is trading at $16,129, showing a slight recovery. But Ethereum plummeted by double the loss from BTC.