Ethereum Whales Selling at a Loss While Others Accumulate Amid Market Turmoil

The Ethereum ($ETH) market is experiencing contrasting whale activity, with some offloading at significant losses while others seize opportunities to accumulate during the downturn.  

In a striking move, three wallets—likely controlled by the same whale—sold 10,070 ETH for $33 million in DAI at $3,280 nine hours ago, incurring a $1 million loss. This whale had previously withdrawn 24,029 ETH ($81.3M) from Binance via 10 new wallets three weeks ago and now holds 13,959 ETH ($45.48M).

Whales are dumping $ETH at a loss!

9 hours ago, 3 wallets(likely belonging to the same whale) sold 10,070 $ETH for 33M $DAI at $3,280, losing $1M.

This whale withdrew 24,029 $ETH($81.3m) from #Binance via 10 new wallets 3 weeks ago and currently holds 13,959 $ETH($45.48M).… pic.twitter.com/5lqFegRu3i

— Lookonchain (@lookonchain) January 13, 2025

Earlier today, the whale liquidated all 24,029 ETH for $78 million at an average price of $3,248, resulting in a total loss of $3.27 million. Following this sell-off, ETH prices dropped below $3,000, reflecting bearish sentiment.

ETH plummeted to below $3,000.

This whale has sold all 24,029 $ETH($78M) in advance today at an average price of $3,248, with a loss of $3.27M.https://t.co/ktyIV8XAd6 pic.twitter.com/KZCf589lqT

— Lookonchain (@lookonchain) January 13, 2025

Despite the sell pressure, some whales are taking advantage of the declining market. A wallet associated with Longling Capital withdrew 10,000 ETH ($30.76M) from Binance. The whale also borrowed $9 million USDT from Aave, which was subsequently deposited into Binance, signaling potential accumulation or leveraged trading strategies.    

Currently, three whales control a staggering 43.14% of Ethereum’s total supply, highlighting their influence on market dynamics.

Ethereum faces critical resistance between $3,360 and $3,450, with support zones ranging from $3,066 to $3,160. These levels will play a pivotal role in determining Ethereum’s short-term price direction.

The most critical resistance level for #Ethereum $ETH lies between $3,360 and $3,450, while key support is found between $3,066 and $3,160. pic.twitter.com/gE0vEW35vb

— Ali (@ali_charts) January 13, 2025

From January 6 to January 10, Ethereum spot ETFs saw a net outflow of $186 million. While BlackRock’s ETF (ETHA) recorded a net inflow of $124 million, Fidelity’s ETF (FETH) experienced a substantial outflow of $276 million.

Last week (January 6 to January 10, EST), Ethereum spot ETFs had a net outflow of $186 million. Only Blackrock ETF ETHA achieved a weekly net inflow of $124 million. Fidelity ETF FETH had a weekly net outflow of $276 million.https://t.co/Tvs2oCSxTg pic.twitter.com/U0f89peAOt

— Wu Blockchain (@WuBlockchain) January 13, 2025

As Ethereum navigates these turbulent times, contrasting whale activity and ETF movements reveal a divided market sentiment, leaving traders and investors to carefully monitor key levels and trends.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: winst2014/123RF // Image Effects by Colorcinch

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