Whale Dumps $110M in ETH—Here’s How Prices Reacted

A single Ethereum whale just moved $110 million worth of ETH—was it a strategic exit or just another Tuesday in crypto? Market watchers brace for ripple effects as the blockchain ledger spills the tea.

Price impact: Immediate dip or shrug? The market’s response will reveal whether this whale is a trendsetter or just another gambler cashing out before the SEC notices. Liquidity pools absorbed the sell-off, but traders are eyeing the next domino.

Bonus jab: Meanwhile, Wall Street still thinks ’HODL’ is a typo.

Whales are accumulating

On-chain data reveals a significant Ethereum whale transaction, involving the OTC purchase of 30,000 ETH ($54 million) through Wintermute.

The deal was executed via two USDC transfers totaling over $110 million, routed to Wintermute’s OTC wallet. Shortly after, the whale wallet received the full crypto assets.

While the broader market remains cautious, this move underscores growing conviction among high-net-worth investors. Such quiet accumulation, though not always headline-worthy, often precedes major price action.

What insight might this whale have that the rest of the market lacks?

Whale holdings remain steady

Source: Santiment

Supporting this narrative, broader Ethereum whale activity has remained relatively stable over the past week.

Data from Santiment shows that the number of wallets holding between 1,000 and 100,000 ETH has largely held its ground, even as ETH prices climbed from the $1.5K range to around $1.7K.

Source: Santiment

Meanwhile, whale transaction counts have risen sharply since April 21st, coinciding with ETH’s breakout.

This steady base of whale holders, combined with a recent uptick in large transactions, hints at growing institutional confidence rather than speculation.

Ethereum’s price outlook

Ethereum’s recent breakout above $1,750 appears to be holding, with the asset trading NEAR $1,800 at press time.

The RSI on the daily chart remained neutral at around 55, suggesting there’s room for further upside without immediate overbought pressure.

Source: TradingView

Meanwhile, the MACD continued to flash a bullish crossover, with the MACD line staying comfortably above the signal line, showing strengthening positive momentum.

With steady whale accumulation in the backdrop, ETH could target the $1,850-$1,900 zone next, provided broader market conditions remain stable.

A clean break above $1,900 could open the door toward $2,000 in the coming sessions.