An Ethereum whale has shocked the ETH community by burning $4.5 million worth of tokens, leaving many speculating about the reasons behind the action. The trader had reportedly earned over $20 million and then went all-in on a bitcoin short before deleting their account. This move has contributed to the growth of the Ethereum ecosystem and fueled the narrative of Ethereum as “ultrasound money.” Burning tokens helps decrease circulating supply and boost demand and market value. The community is still trying to understand the motivations behind the whale’s surprising move.
AI Sentiment: Negative