~20M USD of Ethereum Selling Wall on 12 June 2017

in cryptocurrency •  7 years ago  (edited)

There is something going on ethereum (ETH) trading on Poloniex at 0.0114 BTC price wall.

Good morning everyone, I wake up and check out the cryptocurrency market capital. It is really amazing. I witness the shift of capital to cryptocurrency market and ETH is one of fast growing in term of price and volume from $35 to $113 billions in less than two months.

However, there is something strange going on here especially on Poloniex where there is selling wall for 55270 ETH volume approximately around ~20 million USD (6300 BTC) at 0.114 BTC (~$341.65). Please have a look at the attached images below:

I think I should call it firewall :-D

12JunETH_SellingWall_1.jpg

12JunETH_SellingWall_2.jpg

What do you think? What are the reason behind the selling wall?

Please comment and tell me if you understand the situation.

With Regards,

@moksamol

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that is the northern wall in game of thrones

lolz, maybe it need fire to break it. :-D

Who knows. Profit taking?

It seems so @pelagus