Ethereum Whales Trigger Market Uncertainty as $127M Selloff Sparks Price Pressure

Recent large-scale Ethereum transfers by dormant holders and institutional players have intensified market volatility, with analysts split on ETH’s trajectory amid a $127M selloff. The cryptocurrency’s price hovers at $1,612 as exchange inflows raise concerns about sustained downward pressure.

Whales Dump $127M in Ethereum—Market Trends Shift

A recently inactive Ethereum holder transferred 30,000 ETH, worth $47.85 million, after three years of dormancy. Of this, 3,000 ETH was deposited to Kraken, sparking fears of a selloff. Separately, Galaxy Digital transferred nearly 80 million ETH (though likely a typo intended as a smaller amount given context) to exchanges, enhancing pressure on Ethereum’s price. ETH is currently trading at $1,612, and analysts are divided on its future direction. An early ICO participant’s significant operation highlights changing market trends.

Ethereum Price Predicted To Rally To $2,600; Remittix (RTX) Attracts Attention

The price of Ethereum has discovered new bullish momentum, with experts expecting a consistent rally towards the $2,600 level in the next few weeks. This surge is rekindling interest throughout the ETH space, including one top presale token called Remittix (RTX) that’s now attracting serious attention. ETH is currently trading at $1,575.46, down by 1.47%, with a trading volume of $13.09 billion and a market capitalization of $190.68 billion.

1-Year-Dormant Ethereum Whale Transfers 1000 ETH, Awakes With 859.3% Profit

After a year of dormancy, an Ethereum whale has resumed market activity by depositing 1000 ETH worth $1.6 million into Binance. These ETH trace back to withdrawals from multiple CEXs made 5–7 years ago. Currently, the wallet holds 2001 ETH, valued at $3.16M, representing an 859.3% profit. This whale’s re-entrance into the Ethereum market has elicited questions about their intention and possible effect on the market.

Ethereum’s 2022-style Bear Market Test

Ethereum is experiencing a similar pattern of significant loss realization as seen in the 2022 bear market. The current sell-side liquidity from Ethereum whales is concentrated between the $1.4k–$1.6k execution zone. Following ETH’s drop to a multi-year low due to a risk-off sentiment and broad deleveraging, large entities have started aggressive distribution cycles. Galaxy Digital, for instance, has sold 62,181 ETH worth $99.46 million over the last six trading sessions, with an average on-chain transfer price of $1,599. A demand-supply equilibrium within this zone is crucial for Ethereum to find stability.