The ether (ETH) suddenly collapsed to $1170 during the Asian session this morning. Last Sunday, the altcoin reached $1217.
Observers attribute this drop to the activation of one of the largest investors. Whale Wallet provoked the collapse of the ETH rate by sending the cryptocurrency to the Binance exchange.
Usually investors transfer virtual currencies to trading floors for its subsequent sale. This is exactly the scenario we saw in the Asian market today.