The entire cryptocurrency market experienced a 7% decline, resulting in a total valuation of $1.1 trillion. Ethereum’s price dropped to its lowest point at $1,550, a 15% decrease in value. Following this market crash, the whale known as Cumberland withdrew 4,000 ETH ($6.72 million) from Binance. Cumberland has a history of astute market operations, making purchases at lower prices during times of market uncertainty. Their strategic stablecoin deposit caused a temporary decline in cryptocurrency prices but resulted in significant recovery and returns.
AI Sentiment: Negative