Ethereum Price Plunges Below $2,300 Amid Whale Selling and ETF Outflows

A large whale wallet has been selling Ethereum (ETH) on Binance over the past three days, contributing to the cryptocurrency's decline below $2,300.

The selling pressure is also fueled by weakening ETF demand, with US spot Ethereum ETFs recording $103.5 million in net outflows.

Despite this, a wallet linked to Erik Voorhees has continued to accumulate ETH, buying 2,920 coins worth $6.67 million USDT at an average price of $2,284 per coin.