Ethereum Faces $2K Danger Zone as Whales Dump $348M Worth of ETH

TL;DR: Large holders reduced their positions by 160,000 ETH, valued at over $348 million over recent trading sessions. Ethereum balances deposited across centralized exchanges posted an inflow of 100,000 ETH (approximately $240 million). ETH traded down 1.37% over 24 hours to change hands at $2,320, touching an intraday low of $2,290. Whales liquidated a combined 160,000 ETH , driving a substantial spike in selling pressure across the Ethereum market. This capital flight coincides with a breach of immediate technical supports and the technical postponement of the network’s upcoming testnet upgrade. This Thursday, October 29, the second-largest cryptocurrency by market capitalization fell back into the $2,320 range .

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