Can Ethereum Recover in April After $117M Whale Moves to Exchanges – Price Analysis

• Over 65,000 ETH worth more than $117 million was deposited to exchanges in 24 hours.
• ETH price dropped below the critical $1,800 support, hitting a 24-hour low of $1,751.33.
• Ethereum’s Pectra upgrade is confirmed for May 7, promising improvements to the network.

Significant amounts of Ethereum (ETH) were shifted to centralized exchanges over the past day by major players, signaling potential sell pressure while investor sentiment remains weak and the network’s Pectra upgrade faces delays. 

The upgrade, a key development post-Merge, was pushed from March to May 7th. 

$117M+ ETH Moved to Exchanges, Sparks Sell-Off Fears

Large institutional and individual holders moved tens of thousands of ETH onto exchanges within 24 hours. Data reported by The Data Nerd on X included transfers from.

According to The Data Nerd on X, the following transfers were recorded:

• Grayscale: 16,247 ETH (~$28.63 million)
• BlackRock: 10,000 ETH (~$17.94 million)
• Wintermute: 34,634 ETH (~$62.94 million)
• Andre Cronje (Fantom): 2,000 ETH (~$3.44 million)
• James Fickle: 2,350 ETH (~$4.19 million)

These transfers, totaling over 65,000 ETH (valued above $117 million…

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