Significant Whale Movements Impacting Ethereum Price
Recent on-chain analysis reveals that a major Ethereum ICO participant has been actively liquidating large portions of their holdings. Over the past two days, this whale deposited 10K ETH ($35.4 million) into Kraken, contributing to a notable price drop.
Key Transactions by the Ethereum ICO Whale
- 5.5K ETH ($19.3 million) transferred to Kraken, triggering short-term bearish pressure.
- Cumulative deposits of 10K ETH over 48 hours.
- Original ICO investment: **150K ETH at $0.31 per token** (now valued at ~$476 million).
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Ethereum’s On-Chain Resilience Signals Potential Reversal
Despite whale-induced volatility, Ethereum’s fundamentals remain strong:
- 4.1 million ETH withdrawn from exchanges in the last 10 days.
- Exchange-held ETH supply (12 million) at a 7-year low (just 10% of total supply).
- Anticipated spot Ethereum ETF launch (projected by July 2) could drive bullish momentum.
Why This Matters for Investors
- Reduced sell pressure: Fewer ETH on exchanges limits downside risk.
- ETF catalyst: Institutional inflows may propel prices upward.
- Whale activity as a contrarian indicator: Large sell-offs often precede reversals.
FAQs
Q: How low could ETH price go due to whale selling?
A: With strong on-chain support, dips are likely short-lived. The $3,400–$3,600 zone is critical for buyers.
Q: When will the Ethereum ETF launch?
A: Bloomberg analysts predict trading to begin by July 2, 2025.
Q: Should I sell my ETH now?
A: Holders may benefit from waiting post-ETF launch, as institutional demand could offset whale sales.
👉 Explore ETH trading strategies
Conclusion
Ethereum’s price drop, driven by ICO whale activity, masks a bullish setup:
- Declining exchange reserves.
- Imminent ETF approval.
- Historically low available supply.
Watch for reversal signals as macroeconomic and institutional factors align. Stay updated with real-time analytics to capitalize on market shifts.
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