Spotonchain analysis points out that ETH's decline in the past month may be related to four large-scale sell-offs

According to Spotonchain, ETH has experienced two severe declines in the past month, with a total decline of 23.5%. The main reason behind this may be four large-scale sell-offs. These include: the Ethereum Foundation sold 35,400 ETH (about $95 million); Jump Trading sold 88,900 ETH (about $276 million); the ICO-related whale "0xe17" sold 48,500 ETH (about $154 million); and the long-term whale "0x682" also sold 25,000 ETH (about $73.9 million). These sell-offs totaled about 197,800 ETH, worth about $599 million, and may be the main driving force behind the recent sluggish performance of the ETH market.