Should ETH Investors Worry About Recent Ethereum Whale Movements?
Ethereum investors have been on edge as whale activity shows unsettling signs, raising questions about the broader market sentiment. Notably, high-profile firms like Galaxy Digital have begun offloading large amounts of ETH, prompting concerns over the cryptocurrency’s short-term outlook.
Major ETH Sell-Offs Spark Concern
In recent weeks, multiple reports—such as those from CryptoPotato—have highlighted large-scale ETH sell-offs by whales and institutions. Galaxy Digital, in particular, has been shifting away from Ethereum and increasing its exposure to Solana (SOL)—a move that could signal waning institutional confidence in ETH.
This selling pressure contributed to a drop in ETH’s price to $1,400 earlier this month. Although Ethereum briefly rebounded to $1,800, some investors saw the recovery as an opportunity to exit at higher prices.
Blockchain analyst Ali Martinez reported that whales sold approximately 262,000 ETH—valued around $445 million—after the price recovery began. One of the most prominent signals of potential selling came from Galaxy Digital’s continued ETH deposits to centralized exchanges, including a 23,900 ETH ($42.5 million) transfer to Coinbase, typically a precursor to liquidation.
Adding to the volatility, Lookonchain tracked a large investor who bought 15,000 ETH at $1,801, only to begin selling within hours—ultimately unloading the entire position within 24 hours, despite a slight loss.
Not All Whale Activity Is Bearish
Despite the bearish trends, not all major players are exiting the market. On-chain data indicates that some institutions and whales are accumulating ETH. Lookonchain revealed that a wallet tied to Cumberland withdrew over $50 million in ETH from platforms like Copper, Coinbase, and Binance—typically a bullish indicator.
Further optimism comes from increasing Ethereum network activity, which spiked 10%, and from ETH ETFs, which have seen several days of positive inflows.
Adding even more weight to the bullish case, BlackRock recently announced plans to tokenize its $150 billion Treasury Trust Fund on Ethereum, further validating the blockchain’s institutional relevance.
