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ethereum

Crypto Whale Offloads 10,070 Ethereum – Is ETH Losing Its Appeal?

Ash Tiwari
by Ash Tiwari
7 months ago
·
Posted in Ethereum
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

2025 has not started on a strong note for Ethereum (ETH), as the second-largest digital asset by market cap continues to trade below its yearly open. Recent on-chain movements also suggest that crypto whales might be losing confidence in ETH’s potential to deliver outsized returns.

Are Whales Losing Faith In Ethereum?

While cryptocurrencies like Bitcoin (BTC), SUI, and Solana (SOL) experienced stellar performances in 2024 – delivering exceptional returns to investors and hitting new all-time highs (ATH) – Ethereum’s journey was comparatively underwhelming.

Related Reading: Ethereum Weekly RSI Resets: Is A Rebound To $4,000 Imminent?

Unlike its peers, which set fresh ATHs in 2024, Ethereum’s ATH of $4,878 remains untouched since November 2021. This highlights ETH’s relatively weaker price performance last year.

Moreover, Ethereum repeatedly failed to breach the stubborn $4,000 resistance level throughout 2024. Currently trading in the low $3,000 range, ETH remains approximately 35% below its ATH.

On-chain analysis now reveals that Ethereum’s underwhelming performance is beginning to shake the confidence of its largest holders. According to an X post by crypto tracking account Lookonchain, some whales have started selling ETH at a loss.

ETH whale
Source: Lookonchain on X

Per the post, three wallets – likely controlled by the same whale – sold 10,070 ETH for 33 million DAI. The transaction was executed at a market price of $3,280, resulting in a $1 million loss for the whale.

Interestingly, this particular whale appears to be a seasoned market participant. In December 2024, the same entity withdrew 24,029 ETH – worth over $81 million at the time – from Binance. Despite the recent sale, the whale still holds 13,959 ETH, valued at $45.48 million at current prices.

Concerns also linger regarding the Ethereum Foundation’s recurring practice of selling ETH near market tops. A recent post by Spot On Chain revealed that the foundation has already sold some ETH in 2025. In 2024, the organization offloaded 4,466 ETH for $12.61 million, raising questions about its timing and strategy.

Can ETH Make Amends In 2025?

Although 2024 was lackluster for Ethereum in terms of price performance, 2025 holds promise, thanks to strengthening fundamentals and growing institutional interest in the digital asset. For example, the US Securities and Exchange Commission (SEC) recently approved the first hybrid BTC and ETH exchange-traded funds, signaling increased mainstream acceptance.

Related Reading: Ethereum Set For A Parabolic Surge? Here’s What Crypto Experts Say

From a technical perspective, things also appear to be improving for Ethereum. Recent analysis highlights the formation of an inverse head-and-shoulders pattern on the 3-day chart, which could finally pave the way for ETH to break through the $4,000 resistance level.

Additionally, historical data indicates that Ethereum tends to outperform other digital assets during January following a US election year, adding to the optimism surrounding its price trajectory. At press time, ETH trades at $3,210, up 6% in the past 24 hours.

ethereum
ETH trades at $3,210 on the weekly chart | Source: ETHUSDT on TradingView.com
Featured Image from Unsplash.com, Charts from X and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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