The ups and downs in Ethereum prices can be attributed to this
Unlike the rest of the market, Ethereum did not witness much decline on December 4. On that day it only fell by 2.3%. However, the wick it created managed to terrify every Ethereum investor. The bigger question is, how it happened.
The events of December 4 are credited to multiple reasons however, IntoTheBlock may have figured out the reason individual to Ethereum.
As per data, the institutional investors were responsible for this fall since their volumes suddenly shot up by $6 billion and reached $18 billion.
Ethereum large transactions volume | Source: Intotheblock – AMBCrypto
Before closing at $4124, ETH almost dropped to $3470 that day owing to the huge downside wick. The last time volumes this high were observed was right before Ethereum
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