Whales manipulate the price of eth

Great fluctuations on the Ethereum market (ETH) yesterday launched a wave of reaction to social media, and one co-founder of Ethereum claimed that certain large owners or “whales” had been pushing the price of property down.

The activity reached the fever on Monday, February 4, when ETH’s price turned around $ 2,900 to $ 2,120 before it was abruptly declined. Despite the internal decline, Ether eventually closed a day of 26% green wick – an unusual price rejecting in such a short window.

Ethereum price manipulates whales?

The analysts attributed the dramatic movement to the external macroeconomic forces, most notably the US trade war under President Donald Trump. After imposing Tarife Mexico and Canada at the beginning of the day, the president later hit an arrangement that encouraged a rapid recovery in global markets, including a crypto currency.

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The turbulence brought in one observer, identified simply as an “internship” (@intern), director of growth in Monad, to publish strong feelings on X: “Eth dies in front of us. I honestly never thought it would happen.”

IN answerCo-founder of Ethereum and Consensys Executive Director Joseph Lubin offered a composed look, emphasizing that these types of prices are not unusual for digital assets: “This is happening regularly. Then it goes out. What we see are whales exploiting economic unrest and negative Feelings to shake their weak hands, run to stop, and then bought when I can start that same book for reproduction. “

Lubin’s statement represents a cyclical understanding of the cryptum of volatility, which implies that larger players are exploiting market anxiety – often worse macro development – to press less resistant investors for sale.

Several reputable crypto merchants also commented on events, especially charges of manipulating a guided whale.

One well-known figure, Hsaka (@hsakatrades), advised the newcomers not to assume that the fall of the ETH was guided by purely to feelings of the organic market: “Dear Noobs, Ethereum does not go naturally down. Pushed down the whales set up on sale on sale The stock market to sell the risk of risk in “buying a lower”.

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The notion of aligned strategies of “Passover” – where large orders are set for sale and then canceled or only partially filled – it has long circled in the crypto communities. The tactic is reportedly aimed at launching panic sales, making so -called whales accumulate positions at more favorable prices levels.

The prominent merchant Pendoshi (@Petosh1) offered a short but prominent reaction, pointing out that ETH had been a weaker effect in the last three years than Batcoin (BTC): “The three -year -old has been shaken so far. I hope you are right. “
The question of why the whales would particularly single out Ether were asked by a member of the Evmaverack392.et Community (@Evmaverick392): “Maybe I’ll sound naive, but why do whales do this maneuver exclusively on the air?”

Lubin responded with a parallel with conventional robbery banks and suggesting that the recent wave of discomfort over the Ethereum ecosystem made property to the main goal: “Why are banks robbers robbing Banks – or are they used to? (Unjustified) fud towards the Ethereum ecosystem is currently most pronounced. “

At the time of the press, Eth traded at $ 2,704.

Sepaled image created with dall.e, chart with traditionview.com