According to Lookonchain, the Ethereum OG known as '0x31aa' sold 5,000 ETH (worth $12.11M) just four hours ago as ETH prices continued to decline. This significant sell-off by a long-term holder signals increased panic in the market and may contribute to further short-term volatility for ETH traders. Currently, 0x31aa still holds another 5,000 ETH ($12.09M), suggesting there could be additional large-scale liquidations if bearish sentiment persists. Traders should closely monitor on-chain activity from major wallets, as further sales could pressure ETH prices and impact liquidity on leading exchanges. (Source: Lookonchain via Twitter, etherscan.io)