Dormant Wallet Shifts 10.2K Ethereum Amid Silvergate Debacle; ETH Price Dump Ahead?

Ethereum, the world’s second largest crypto, is trading under immense selling pressure due to the increased volatility due to the Silvergate Debacle.

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As per the On chain data, a dormant whale wallet moved out 10,266 of its Ethereum reserve in multiple transactions amid the recent price dip.

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It added that out of moved 10,266 Ethereum, the whale transferred 1,322 ETH (approx worth $2 million) to the Poloniex crypto exchange.

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However, Ethereum price has taken a hit of around 5% over the past 7 days to trade in the range of $1.6 price level.

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