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8 Comments
tldr; Ethereum’s price dropped by 18.35% this week, leading major holders, or ‘whales’, to sell large amounts of ETH to repay debts on DeFi platforms. Some whales sold over $200 million in ETH, while others, like Trump’s World Liberty Finance, took advantage of the dip to buy ETH. The price drop forced a whale to deposit 22,746 ETH to Binance to withdraw stablecoins for debt repayment. Ethereum’s price struggles to break the $4,000 resistance, facing its third rejection this year, with bearish futures data and increased short positions adding pressure.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Don’t gamble with borrowed money whales.
60K ETH offloaded even when price is dumping. Hate me for saying it, but ETH has been the worst performing bluechip this cycle.
Breaking the sacred rule of “**Invest what you can afford to lose**”
I could be a whale too if I just took out debt to get there
And this is why you don’t debt-fund your investments
https://www.reddit.com/r/CryptoCurrency/s/kvlu29jbFu
This is a good thing