Ethereum Whale Moves $2.5M to OKX, Triggering Market Anxiety

A significant ethereum whale, who initially purchased ETH during its 2015 ICO at just $0.31 per token, has deposited 991.67 ETH (valued at approximately $2.51 million) into the OKX exchange. On-chain data indicates that this whale has been actively selling ETH since May 2025, offloading a total of 9,845 ETH (worth $25.23 million) so far. This activity has raised concerns about potential sustained selling pressure in the market. Given the whale''s extremely low cost basis, they can secure profits even during price downturns, amplifying their influence on market sentiment. The immediate market reaction to this deposit was noticeable, with ETH prices showing heightened volatility. As of June 12, 2025, traders and investors are closely monitoring this whale''s movements for further clues about Ethereum''s near-term price trajectory.

Ethereum Whale Deposits $2.5M to OKX, Sparking Market Concerns

A prominent Ethereum whale, who acquired ETH during its 2015 ICO at $0.31 per token, has deposited 991.67 ETH (approximately $2.51 million) to OKX. On-chain data reveals this whale has sold 9,845 ETH ($25.23 million) since May 2025, raising fears of sustained selling pressure.

The whale''s actions carry outsized influence—their low-cost basis allows profit-taking even during price dips. Market reaction was immediate: ETH trading volume on OKX surged 12% within two hours of the transfer, with prices hovering NEAR $2,530. Such movements underscore how whale activity remains a key price catalyst.

Exchanges like OKX often serve as liquidity gateways for large holders. When whales MOVE assets to trading platforms, it typically signals impending sales. The Ethereum market now watches whether this pattern will trigger broader volatility.

Institutional Demand Drives ETH Outperformance as Crypto Markets Rally

Ethereum''s 11% monthly surge has eclipsed Bitcoin''s 5% gain, fueled by institutional traders shifting focus to ETH derivatives. OKX data shows ETH now commands 45.2% of perpetual futures volume versus Bitcoin''s 38.1%, signaling growing sophistication in crypto markets.

The asset''s dual role as a bridge between DeFi and traditional finance appears to be attracting smart money. Lennix Lai of OKX notes Ethereum''s structural growth narrative is resonating with professional traders, particularly in Asia''s Thursday session where ETH holds at $2,770.

Glassnode reports long-term Bitcoin investors continue harvesting profits, realizing $930 million daily during recent rallies. The data suggests institutions are strategically accumulating both assets - buying BTC dips while positioning for ETH''s ascendancy in derivatives markets.