Mike Smith
4 days ago
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Amid the recent jump to $2,500, Ethereum has faced a sharp cooling of interest and increasing market pressure. This turn has become a catalyst for a split among the largest holders of the asset: some of them are increasing their positions, counting on a recovery, while others are trying to get into the plus, taking profits or playing for a fall.
The market is demonstrating high volatility, and Ethereum whales are choosing opposite strategies. According to analytical platforms, some large holders are actively increasing the volume of ETH in their portfolios, while others are selling assets or opening short positions. Such a range of actions only increases volatility and makes it difficult to form a sustainable trend.
Analytical service Lookonchain recorded large transactions from whales who acquired several thousand ETH in a short time, showing confidence in the long-term value of the cryptocurrency. One of the major players bought more than 3,000 ETH for almost $5.74 million, but after the rate dropped to about $1,840, he ended up in the red by more than $140,000. At the same time, investors controlling from 10,000 to 100,000 coins collectively hold more than 25 million ETH.
On the opposite side of the market, one of the major traders opened a short position of 10,000 ETH, based on the belief that the price will continue to fall. At the same time, an early investor who received tens of thousands of coins back during the IPO period recently got rid of 6,000 ETH, presumably locking in a profit of almost $11 million.
Ethereum's price dynamics remain contradictory: the asset sometimes shows growth, then again loses ground. After a sharp jump, the coin fell in price, stopping near the $1,840 mark, which is significantly lower than the previous highs.
Despite this, institutional investors continue to show interest in Ethereum-based instruments. They have recently attracted tens of millions of dollars - this is the first stable capital inflow after a protracted phase of outflow. Particularly noteworthy is the growth of interest in spot ETFs, which showed positive dynamics and fresh infusions of more than $ 6 million in one trading day.
Against the background of the activity of large players, the behavior of retail investors looks restrained. The total trading volume of ETH on cryptocurrency exchanges decreased by about 10% per day. On-chain data also indicates a decrease in user activity: the number of wallets involved is decreasing, network fees are falling, and profitability from transactions is decreasing.
The Ethereum market is in a state of tense anticipation. Institutions, relying on long-term forecasts, continue to move towards accumulation, while retail is demonstrating increased sensitivity to the current uncertainty. It is interesting that even with the multidirectional actions of players with capital, their activity becomes the factor that can provoke a new round of price movement - in any direction.
