ETH Price Struggles Below $2,500 Amid Whale Dumping!

• Big ETH transaction volumes indicate investors taking profits from market conditions which might trigger additional price drops.
• Market turbulence has induced traders to sell their ETH positions which caused over $330M in liquidations.
• The potential price stability range for Ethereum exists between $3,000 but ongoing liquidations suggest prices may keep moving up and down.

Ethereum’s price has experienced a sharp decline, accompanied by significant whale activity and exchange withdrawals. According to data from lookonchain , one of the most notable transactions was carried out by the wallet address 0xc7251025.,…..,,, which sold 8,074 ETH valued at approximately $19.63 million at an average price of $2,431 just 12 hours ago. This large-scale sale suggests that the investor either aimed to take profits or anticipated a downward price movement.

Similarly, another whale with the address, 0x07Fe1752b,… deposited 10,000 ETH (worth around $23.44 million) to Binance within the last two days. Such a transfer to an exchange could indicate an intention to sell, adding to the existing pressure in the market.

Ethereum Stalls Below $2,500 Amid Whale Activity

These movements come at a time when Ethereum has been experiencing fluctuations, with prices facing resistance around the $2,400-$2,500 range. Large-scale transactions of this nature often lead to speculation, as whale actions can influence price direction due to their significant market impact. 

Ethereum price today is $2,343.82 with a 24-hour trading volume of $100.87T, market cap of $ 283.34B, and market dominance of 9.83%. The ETH price decreased -2.90% in the last 24 hours with current circulating supply at120.58M ETH.In terms of market cap, Ethereum is currently ranked #2 and ranked #2 in the Layer 1 sector.

ETH Liquidations Exceed $330M, Indicating High Volatility

The ETH Total Liquidations Chart highlights Ethereum’s market movement through its biggest market crash in early February which exceeded $330 million in total liquidations. The Ethereum market displayed identical price movement patterns between December and January as prices stayed between $3,500 and $4,000 before starting their January decline.

In mid-January there was an enlarged increase in short liquidations because ETH showed increased value that made traders close their positions predicted on decreasing prices. The upcoming $3,000 support level for Ethereum exists alongside ongoing liquidations which signal dangerous market fluctuations.

Thus, if whales continue to liquidate their holdings, Ethereum could face short-term price pressure. On the other hand, if these sales are part of routine portfolio adjustments rather than a