Ethereum (ETH) prices are in freefall, and a large-scale transaction may be one of the reasons for the rapid drop. A wallet that received 380,000 ETH from the Genesis wallet sent two large transactions, in effect emptying out the previous addresses. The receiving wallet is an unknown whale account, with more than 454,547 ETH. Another transaction of 115,000 ETH came from a different whale wallet, suggesting some form of reorganization. So far, the wallets have not sent the funds directly to exchanges.

The move was seen as a sign of capitulation …

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