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.

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.

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

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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