An Ethereum whale who had been holding ETH since its initial coin offering just dumped a sizable amount of tokens.
An Ethereum whale has sold a large amount of ETH, but it is still left with over $112 million in today’s value.
The sellout comes as investors are keeping a close eye on ETH, which recently crossed the $3,000 milestone.
However, despite the setback, ETH continues to move forward and is currently trading at $3,140.
Over the past 24 hours, Ether has gained 6% in value, outperforming Bitcoin’s 0.2% and Solana’s 1.4% growth during the same period.
Meanwhile, Ethereum Foundation developers are working on “The Scourge,” which could impact ‘Crypto Whales’ holding Ether.
Part of the plan is to ensure that Ethereum is decentralized and to tackle the effects of Maximal Extractable Value (MEV).
MEV refers to the practice of crypto miners and validators maximizing profits by including, excluding, or reordering transactions within blocks, often prioritizing those with higher fees.
The upcoming upgrade will aim to implement a fair transaction processing process, preventing large holders from exploiting their positions as validators to further increase profits.
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