A crypto wallet reportedly linked to World Liberty Financial, a project associated with the Trump family, has sold 5,471 ETH worth about $8.01 million. The transaction, confirmed by blockchain analytics firm Lookonchain, occurred at a price of $1,465 per ETH.
According to Lookonchain via X, the sale was made at a steep discount compared to the wallet’s original buy-in price. Market analysts believe the ETH was initially acquired at an average of $3,259 per token. This suggests a realized loss of more than 55 percent on the sale.
World Liberty Financial invested about 67,498 Ethereum tokens which leads experts to estimate the total financial investment reached around $210 million. At the current Ethereum trading range between $1,400 and $1,500 the remaining tokens value shows over $100 million of unrealized financial loss.
Also Read: Ethereum in Freefall: Whale Liquidations Trigger Panic as Price Crashes Below $1,500
Public interest in the project grew somewhat because media outlets linked it to members of the Trump family. The previous appointment of Eric Trump as “Web3 ambassador” for another project revealed his positive outlook toward Ethereum’s future. Since its initial hype the market has experienced substantial downturn against the earlier positive predictions.
Ethereum Under Pressure as Technicals Signal Weakness
The large-scale sale has drawn attention as Ethereum continues to struggle under bearish conditions. According to CoinMarketCap, ETH is priced at $1,488.08, reflecting a 5 percent drop in the last 24 hours.
Technical indicator data suggests the market is likely to move downwards. The current Relative Strength Index reading of Ethereum sits at 25.61 which shows that the price conditions are extremely oversold. Downward momentum stays strong even though the indicator shows this situation.
Source: Tradingview
According to analyst Ali Martinez Ethereum will drop to $1,200 before possibly stabilizing at that level. The current market trend shows the resistance points at $1,796 from the 21-day and $2,068 from the 50-day Exponential Moving Averages.
The substantial Ethereum exchange has created heightened market worries especially among big investors institutional investors. Other major investors could join the exodus from Ethereum creating additional downward pressure on its market value because of rising losses and ongoing market volatility.
Conclusion
The reported WLFI-linked Ethereum sale underscores growing unease in the crypto space. With heavy losses and weakening technical indicators, Ethereum’s near-term outlook remains under watch.
Also Read: Over $117 Million in Ethereum Moved to Centralized Exchanges as Major Investors Stir Market Concerns
