Why is this Ethereum Whale Accumulating Despite Mounting Selling Pressures?
- An Ethereum whale withdrew over 2K ETH tokens from Binance a few hours ago.
- The altcoin factored in a significant drop of 45% in Q1 2025.
Amid spurring political actions, investors watch the crypto market’s movements with batted breath. However, prices seem determined to stay in the consolidation phase despite daily fluctuations. Meanwhile, Justin Sun has expressed disagreement with a financial institution in Hong Kong, the FDT.
Reverting to the crypto market, other altcoins such as XRP have seen modest escapades from bearish trends. Ethereum traders, however, have been in utter dismay since the early market crashes of 2025. According to a recent report, the altcoin has experienced one of the worst quarters since 2018, with a 45% drop.
Meanwhile, in the past few hours, one particular Ethereum whale caught market attention. Lookonchain, an on-chain monitoring platform, reported that this whale, with address “0x5fA,” withdrew 2,774 tokens worth approximately $5.27 million from Binance.
Furthermore, the whale has been withdrawing a total of 16,415 ETH since February. He currently has incurred a total loss surpassing $13 million. According to Arkham Intelligence data, his total ETH holdings stand at 7.87K tokens.
Ethereum Price Overview
In the last 24 hours, Ethereum has factored in a modest price drop of 1.83%. This causes the altcoin to continue trading at the $1.8K level, as it has been since last month. The cryptocurrency also tested an intra-day low of $1,785 in the last 24 hours.
Zooming out, onto its weekly chart, the altcoin has dropped nearly 10% as opposed to its monthly dip of 13.07%. At the beginning of March, Ethereum showed a modest recovery to the $2K level but dipped shortly afterward.
This price drop has caused the altcoin to see a mounting increase in selling pressures over the past few weeks. Its RSI value stands at 42.64 as per TradingView data, reconfirming the oversold situation.
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Why is this Ethereum Whale Accumulating Despite Mounting Selling Pressures?
- An Ethereum whale withdrew over 2K ETH tokens from Binance a few hours ago.
- The altcoin factored in a significant drop of 45% in Q1 2025.
Amid spurring political actions, investors watch the crypto market’s movements with batted breath. However, prices seem determined to stay in the consolidation phase despite daily fluctuations. Meanwhile, Justin Sun has expressed disagreement with a financial institution in Hong Kong, the FDT.
Reverting to the crypto market, other altcoins such as XRP have seen modest escapades from bearish trends. Ethereum traders, however, have been in utter dismay since the early market crashes of 2025. According to a recent report, the altcoin has experienced one of the worst quarters since 2018, with a 45% drop.
Meanwhile, in the past few hours, one particular Ethereum whale caught market attention. Lookonchain, an on-chain monitoring platform, reported that this whale, with address “0x5fA,” withdrew 2,774 tokens worth approximately $5.27 million from Binance.
Furthermore, the whale has been withdrawing a total of 16,415 ETH since February. He currently has incurred a total loss surpassing $13 million. According to Arkham Intelligence data, his total ETH holdings stand at 7.87K tokens.
Ethereum Price Overview
In the last 24 hours, Ethereum has factored in a modest price drop of 1.83%. This causes the altcoin to continue trading at the $1.8K level, as it has been since last month. The cryptocurrency also tested an intra-day low of $1,785 in the last 24 hours.
Zooming out, onto its weekly chart, the altcoin has dropped nearly 10% as opposed to its monthly dip of 13.07%. At the beginning of March, Ethereum showed a modest recovery to the $2K level but dipped shortly afterward.
This price drop has caused the altcoin to see a mounting increase in selling pressures over the past few weeks. Its RSI value stands at 42.64 as per TradingView data, reconfirming the oversold situation.
Highlighted Crypto News Today:
US Senate Committee Advances STABLE Act Bill to Regulate Stablecoins
Read More