• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
ether ethereum eth
Nexo Logo

Ethereum Sinking? $25 Million of ETH Hits Exchanges as Traders Wind Down for Holidays

Rick Delafont by Rick Delafont
3 years ago
in Cryptocurrency news, Ethereum
Reading Time: 2 mins read
Advertisement

After a particularly rough end to 2019, it looks like the fortunes of Ethereum investors aren’t set to change anytime soon. Almost 205,000 Ether (ETH) has hit popular trading venues within the last 24 hours.

With trading volumes slumping over the holiday season, a sudden influx of selling pressure seems likely to sink the market further. The second most popular crypto asset is already trading at levels not seen since the start of the mid-2019 bull run.

Ethereum About to Sink Lower? Traders Move ETH to Major Exchanges During Holiday Downtime

Most crypto traders are busy unwrapping presents, tucking into their turkey dinners, or going for seconds of Christmas pudding. However, some ETH holders appear to not be letting the holiday season get in the way of them ditching their investments in the second largest digital asset by market capitalisation.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

As highlighted by Twitter-based market analyst ViewBase (@viewbasecom), a large number of ETH has hit leading exchanges over the last 24-hours. More than 204,500 units of the cryptocurrency, worth around $25.6 million, has been deposited at Kraken, Binance, and Huobi.

Kraken has seen almost 90,000 ETH deposited and Binance just shy of 26,000 ETH. Beating the two, however, is Huobi, which received almost 100,000 units of the cryptocurrency.

Looks like someone is prepare to assault the market when liquidity are at its thinnest. https://t.co/clELWPWfl1

— Arthur (@Arthur_0x) December 25, 2019

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

As pointed out in the above tweet, the sudden influx of deposits, and the selling presumably accompanying them, will likely have a more pronounced impact than usual on the prices of Ethereum’s native crypto asset, Ether. With most traders enjoying a break from the charts over the festive period, the number of potential buyers stepping up to absorb any negative price pressure will be substantially reduced at present.

The Christmas period has not been particularly kind to Ethereum investors so far. As recently as December 23, the second most popular digital asset traded at around $134 on Kraken. It has since dropped by around 8.2 percent to a price of $123 at the time of writing.

Although most digital currencies have seen a slump in prices over the last couple of days, Bitcoin has not fallen as sharply. Over the same period, BTC price sank from a high of just over $7,700 to its current price of around $7,161. A drop of around 7 percent, clearly, the holiday liquidity vacuum has affected the entire market. However, with vast numbers of ETH still hitting leading exchanges, it looks like the selling is going to continue, leading to even lower Ethereum prices before the decade is out.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

 

Related Reading: Bitcoin Price Likely to Jump After Christmas; Here’s Why

Featured Image from Shutterstock.
Tags: Christmasethereumprice
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Related Posts

Ethereum price

Will “The Merge” Be A Buy The Rumor Sell The News Event For Ethereum?

13 mins ago
Bitcoin Bear

Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction

2 hours ago
Ethereum Price

Ethereum Merge Scheduled For September 15/16, ETH’s Price Skyrockets

4 hours ago
Polygon

Polygon Maintains Solid Footing As MATIC Balloons By 300% Since June

6 hours ago
AVAX

AVAX Holds Steady And Sets Sights On $50 Barrier Breach

8 hours ago
Is Bitcoin Price Hiking Due To An External Reason, What Does The Data Suggest

Is The Bitcoin Surge Due To An External Reason? What The Data Suggests

8 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Most Investors are Still Looking at Cardano, Enjin Coin, and Mehracki as the CryptoCurrency Market Expands

August 11, 2022

Petrousus – The New Cryptocurrency That Could Become Profitable Like BNB

August 11, 2022

These Altcoins Are An Absolute Must-Have: Axie Infinity, Apecoin and HypaSwap

August 11, 2022

Zompot – The Next Crypto Wave Arrives To Meet Ethereum And Ripple

August 11, 2022

Top 3 cryptos for a balanched protfolio: Supontis (PON), Avalanche (AVAX), and Polygon (MATIC)

August 11, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.