Ethereum Whales Withdrawal Triggers Major Price Decline

The supply of ETH on exchanges has surged by 5% following the implementation of Dencun. Concurrently, whales have been actively shorting ETH on these platforms.

Azcnews (1)

Ethereum (ETH) continues to lose ground, down 9% over the past 24 hours, extending its losing streak.

According to information from CoinMarketCap, the second largest cryptocurrency is still in the red since the activation of the Dencun Upgrade, with weekly losses of up to 18% as the press reports.

Whales are withdrawing

The emergence of market sell-offs has become more widespread, causing fears of a reversal of ETH’s bullish trend. According to data from Spot On Chain, three “whales” are said to have liquidated a total of 26,946 ETH in the past 4 days, raking in nearly $40 million in profits.

One notable development is that an investor transferred 8,870 ETH to Binance on March 16 at a price of $3,733 per coin. This sale brought that person more than 25 million USD in profits.

ETH supply on exchanges

Source: Santiment

Other data studies, using Santiment to gauge market reaction, show that ETH supply on exchanges has increased by 5% since the Dencun Upgrade was implemented. At the same time, the amount of ETH in important “whale” wallets, from 10,000 to 1 million, has decreased significantly.

The analysis of these two indicators shows that “whales” are withdrawing money from the market. This could be due to experienced investors taking profits when they no longer see positive potential in the asset.

Related: Ethereum Dips Below $4000 But Signals Remain Positive

This could be the reason

Ethereum whales short their positions

Source: Hyblock Capital

Cryptocurrency investment services company Matrixport recently proposed a strategy for shorting ETH versus buying Bitcoin (BTC). This proposal is based on two main factors.

First, the implementation of the Dencun Upgrade took away one of the most important factors driving ETH growth. Second, spot ETF approval rates are decreasing over time. This could increase concerns and prompt large investors to sell ETH.

The decline in “whales” is also further illustrated by Hyblock Capital’s Retail Whale vs Delta index, which shows a reduction in their long exposure over the past week.

(2 votes)

5.0/5

(2 votes)
  1. Avatar of
    Anonymous

    Wonderful 😊

Comments are closed.

Latest

Whales Dump Xrp As $50 Million Floods Out Daily

News | Altcoin | Editor Choice

Whales Dump XRP as $50 Million Floods Out Daily

The relentless sell-off of XRP by crypto whales is shaking the market, with $50 million worth of tokens dumped daily, dragging prices lower and sparking fears of a deeper bearish cycle ahead.

Luxembourg Becomes First Eurozone Nation To Invest In Bitcoin

News | Bitcoin | Editor Choice

Luxembourg Becomes First Eurozone Nation to Invest in Bitcoin

Luxembourg’s sovereign wealth fund has allocated 1% of its portfolio—around USD 8 million—into a Bitcoin ETF, making it the first Eurozone country to officially invest in the digital asset.

Bitcoin Whale Addresses Holding Over 100 Btc Hit Record High

News | Bitcoin | Editor Choice

Bitcoin Whale Addresses Holding Over 100 BTC Hit Record High, Bull Run Through 2026

As Bitcoin whales ramp up accumulation and prices soar to new highs, Citigroup forecasts that the bull market could continue through 2026 — setting the stage for another explosive rally in the world’s largest cryptocurrency.

70% Of Bnb Chain Memecoin Investors Are In Profit

News | Editor Choice | Memecoin

70% of BNB Chain Memecoin Investors Are in Profit – CZ’s “Meme Season” Is in Full Swing

The memecoin wave on the BNB Chain is exploding, with over 70% of investors reporting profits as capital floods in — marking the start of the most vibrant “meme season” ever predicted by CZ.

Paypay Acquires 40% Stake In Binance Japan

News | Editor Choice | Policy & Regulations

PayPay Acquires 40% Stake in Binance Japan

The acquisition of a 40% stake in Binance Japan marks a historic milestone for PayPay, paving the way for the convergence of traditional payments and digital assets, and shaping the future of Japan’s digital finance landscape.

Screenshot 2025 09 10 100533