Gate News Bot Message, December 29th, according to CoinMarketCap data, as of press time, ETH (Ethereum) is trading at $2,980.82, up 1.34% in the past 24 hours, with a high of $3,073.35 and a low of $2,888.99. The 24-hour trading volume reached $10.471 billion. The current market capitalization is approximately $359.77 billion, an increase of $4.768 billion from yesterday.
## Important recent news about ETH:
1️⃣ **Whales continue to take profits at high levels, short-term selling pressure still exists**
On-chain data shows that the well-known whale address 0xA339 sold 24,700 ETH over the past week, exchanging for 73 million USDC, with an average selling price of $2,954. After establishing a long position through cyclic borrowing, this address has sold a total of 50,623 ETH, totaling approximately $147.88 million in stablecoins, realizing a floating profit of over $15 million. This large-scale phased profit-taking behavior indicates that arbitrage positions at high levels continue to be released, and there is still significant selling pressure in the short term, exerting downward pressure on the price.