Ethereum’s market dominance has climbed above 11% following a sharp rally that pushed its price to $2,500, despite a mysterious whale selling all 167,855 ETH ($408 million) in just five days. The altcoin surged over 4% daily to $2,150 at press time, briefly touching $2,530. Its market cap now exceeds $300 billion, with the sell-off failing to halt the rebound from a dip below $2,400. On-chain data from Lookonchain tracked the whale’s deposits, which began after receiving the tokens at the start of the month and concluded with the final transfer earlier today. The asset sits at $2,500 with a $305 billion market cap.
Ethereum’s dominance has risen past 11% on CoinMarketCap after the latest leg up. The largest altcoin surged over 4% daily to $2,150 as of press time, briefly tapping $2,530 earlier today before being stopped.
Its market cap has risen to well over $300 billion, providing some market participants with an exit opportunity. Lookonchain has repeatedly reported on a major whale disposing of ETH tokens for days.
The selling spree began at the start of the month when the unknown entity received $408 million worth of the altcoin. They then transferred $174 million to exchanges.
Deposits continued in the following days, with another major transfer of $253 million to multiple trading platforms. The latest was reported earlier today, culminating in the sale of all 167,855 tokens ($408 million).
A tweet from Lookonchain stated: “Insane! This mysterious #Ethereum whale has sold off all 167,855 $ETH ($408M) in the past 5 days.” Despite this substantial sell-off in just days, the underlying asset has rebounded swiftly from its dip below $2,400.
It is up by more than 4% daily and now sits above $2,500 with a market cap of $305 billion. Its market dominance has also increased lately, going past 11% on CoinMarketCap.
