Crypto Whales Panic Sell, Suffer Heavy Losses Amid September Market Chaos
Digital asset titans face brutal September reckoning as market turbulence triggers massive sell-offs.
The Great Whale Exodus
Major cryptocurrency holders executed emergency liquidations during September's market chaos, swallowing significant losses as volatility rocked digital asset portfolios. Panic selling swept through whale wallets as market conditions deteriorated rapidly.
Blood in the Water
The selling frenzy created cascading effects across exchanges, with large-volume transactions flooding order books and amplifying price declines. Whale movements tracked in real-time showed unprecedented outflow patterns from major holdings.
Market Mechanics Exposed
September's events revealed the fragile interdependence between large holders and market stability. The panic exposed how concentrated wealth can become both advantage and anchor during turbulence—another reminder that in crypto, sometimes the biggest fish get caught in their own nets.
Ethereum, HYPE, and PUMP Whales Capitulate
Crypto markets whiplashed on Monday, with liquidations nearing the $1.7 billion mark. Coinglass highlighted this as the highest this year.
According to Glassnode, leverage was flushed, reflecting reduced speculative exposure. Traders often see this as a healthy reset to stabilize derivatives markets and lower the risk of forced liquidations.
However, on-chain tracker Lookonchain shows that some whales panicked and sold amid the Monday bloodbath.
Whale address 0x3c9E dumped 1,000 ETH tokens worth $4.19 million in yet another poorly timed trade. The address has reportedly earned a reputation for missteps, consistently buying ETH at elevated levels and selling into weakness.
“The ‘buy high, sell low’ whale 0x3c9E panic-sold 1,000 ETH ($4.19M) again… Over the past two months, this whale has always bought ETH at high prices and sold at lows,” Lookonchain wrote.
The repeated pattern illustrates how even whales can become trapped in cycles of fear and poor timing. It reflects the volatility that continues to plague traders, even beyond Ethereum.
Whale Dumps HYPE at a Loss
Another whale address, 0x09D4, sold 56,569 HYPE tokens for $2.67 million at an average price of $47.23. The move locked in a $103,000 loss, as the whale had purchased the same tranche of tokens less than a month earlier for $2.77 million at $49 each.
As the $HYPE price dropped, whale 0x09D4 sold 56,569 $HYPE($2.67M) at $47.23 avg 2 hours ago, taking a $103K loss.
He bought the 56,569 $HYPE($2.77M) 26 days ago at $49 avg.https://t.co/7jxn3sjdQI pic.twitter.com/86XqwTC757
As HYPE’s price slid into late September, the whale chose to exit rather than hold through the downturn, further contributing to the bearish pressure on the token.
PUMP Whale Loses Over Half a Million
Losses extended beyond ethereum and HYPE. Whale BV2gzZ liquidated a massive 307.27 million PUMP tokens, worth $1.73 million, at an average price of $0.00564.
The trade represented a $582,000 loss, as the whale bought the tokens nine days earlier at $0.00753 each.
Whale BV2gzZ sold 307.27M $PUMP($1.73M) at an average price of $0.00564 three hours ago, resulting in a loss of $582K.
This bought the 307.27M $PUMP($2.31M) 9 days ago at an average price of $0.00753.https://t.co/RUwrREMqBu pic.twitter.com/IFDlIYjww0
The quick turnaround reflects the speculative nature of meme-driven tokens like PUMP, where fortunes can change in days and ill-timed entries can wipe out seven figures.
MrBeast Caught in the Downturn, Market Chaos Shakes Investor Confidence
Beyond anonymous whales, YouTube megastar MrBeast also felt the sting. The social media personality drew attention after backing Binance-linked DEX Aster, entering NEAR the project’s peak.
Since then, however, Aster’s token has fallen 30%, with MrBeast’s entry serving as “the top signal,” before ASTER fell over the cliff.
BREAKING: $ASTER has fallen 30% since @MrBeast entered.
MrBeast was the top signal pic.twitter.com/wQZZQiaTBN
The episode highlights how celebrity involvement, while boosting visibility, does not guarantee price support. This is especially true in volatile conditions where market cycles can turn swiftly against latecomers.
The flurry of whale liquidations coincides with broader September market weakness, as Bitcoin and altcoins have struggled to maintain momentum.
Large holders typically act as stabilizers during downturns, but the recent wave of panic selling shows that fear is spreading even to the top.
For smaller traders, the whale exodus may suggest that DEEP pockets do not always translate into smart money. Conducting one’s own research remains critical.
