Whale Wars: $119M ETH Dumped as $840M Buying Spree Ignites Crypto Market

Crypto whales just turned Ethereum into their battleground—and the numbers are staggering.

While one faction offloaded $119 million worth of ETH, another went on an $840 million buying rampage. This isn't just trading—it's a high-stakes power play.

The buy-side whale's move screams confidence (or reckless optimism, depending on which hedge fund manager you ask). Meanwhile, the seller either knows something we don't—or just enjoys watching traders sweat.

Welcome to crypto's version of Wall Street's 'smart money'—where the only certainty is volatility, and everyone's convinced they're the smartest in the room.

Ethereum Whale Activity Sparks Debate on Price Forecast and Sentiment

The recent ethereum whale activity that’s been happening shows some pretty crazy selling pressure going up against aggressive buying right now. Hayes systematically went and sold 2,373 ETH (worth $8.32M) and also dumped 776M SENA tokens, while SharpLink took the opposite route and actually spent $108.57M USDC to grab 30,755 ETH at around $3,530 per token.

Arthur Hayes(@CryptoHayes) sold 2,373 $ETH($8.32M), 7.76M $ENA($4.62M) and 38.86B $PEPE($414.7K) in the past 6 hours.https://t.co/1HymJRPhcj pic.twitter.com/MoJNKUjJaQ

Major Selling Pressure Hits the Market Hard

This whale with address 0x3c9E has been depositing tons of ETH to Binance – we’re talking 26,162 ETH ($93.66M) during what were some pretty intense panic-selling moments. This kind of Ethereum whale activity created immediate downward pressure on prices, and the same entity also moved another 7,500 ETH ($25.68M) to exchanges within just a few hours.

A whale received 25,540 $ETH, worth $86.1M, from #FalconX, 6 hours ago.

Previously, the whale received 35,615 $ETH, worth $130.11M, which was sent for staking with #ETH2.0 in 2 wallets, now facing a $10M loss.

Addresses:

– 0xe368e663b3df6be863c522a050cf4d5cfee35634
-… pic.twitter.com/0kQSD0xYg3

There’s also another whale that received 25,540 ETH worth $86.1M from FalconX about 6 hours ago, and this same whale had previously been stacking up 35,615 ETH ($130.1M) for staking, which shows how mixed these institutional strategies are getting for crypto market sentiment.

SharpLink Goes All-In With Counter Strategy

SharpLink’s Ethereum whale activity has been pretty much the complete opposite approach, with them now holding a massive 480,031 ETH (that’s around $1.65B total). The way they’ve been systematically buying over the past couple days also shows they’re confident about the long-term even with some bearish Ethereum price forecast signals coming from other major players.

Metaplanet has acquired 463 BTC for ~$53.7 million at ~$115,895 per Bitcoin and has achieved BTC Yield of 459.2% YTD 2025. As of 8/4/2025, we hold 17,595 $BTC acquired for ~$1.78 billion at ~$101,422 per bitcoin. $MTPLF pic.twitter.com/9EyuDIMsqq

Other institutional moves that have been happening include Metaplanet picking up 463 BTC for $53.7M, and they’ve achieved a 459.2% YTD yield. Meanwhile, HYPE token holders have also been building positions worth approximately $18.65M.

HYPE 持仓 TOP 75 的大户 0x7BE…480D8 仍在增持

20 分钟前他向 Hyperliquid 充值了 407 万枚 USDC，已全部用于购买 $HYPE ，本次增持使其排名前进了 8 名；目前计入已质押部分共持有 487,209.95 HYPE（约 1865 万美元），已浮盈 153.5 万美元

传送门https://t.co/7oQYlltIOd pic.twitter.com/a9RODcoFeL

Merlijn The Trader had this to say:

,

SharpLink(@SharpLinkGaming) received another 15,822 $ETH($53.9M) 6 hours ago.

They spent 108.57M $USDC to buy 30,755 $ETH in the past 2 days, with an average buying price of $3,530.

SharpLink now holds a total of 480,031 $ETH($1.65B).https://t.co/fWtEg2UYB8 pic.twitter.com/EX6r4mQXCY

This whole Ethereum whale activity battle that’s playing out right now actually represents some pretty fundamental disagreements about where the market’s headed. While Hayes selling suggests he thinks things are overvalued, SharpLink’s massive accumulation shows they’re bullish long-term on crypto market sentiment, and this creates perfect conditions for some volatile Ethereum price forecast outcomes.