On October 8, iShares Ethereum Trust ETF fell 5.08% in regular trading, trading at $55.17 with Turnover of $6.75 billion.
The decline was driven by news that a whale transferred 42,000 ETH to Galaxy Digital for potential sale, worth about $112 million, raising concerns of large-scale selling pressure on ETH.
Ethereum had also pulled back from recent highs above $2,700, increasing leveraged long liquidation risk. Data showed $218 million in ETH long liquidations over the prior 24 hours, while order book data indicated elevated slippage risk on thinner venues such as Hyperliquid if large market orders hit.
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