An Ethereum whale just sold about $27 million worth of ETH after holding it for almost nine years. The investor likely made over 18,000% in profits. Back in 2016, Ethereum cost just over $8 per coin. That’s when this wallet began receiving ETH. Blockchain data shows the ETH stayed untouched for years. It’s not certain whether this investor bought ETH directly in 2016, but the tokens were in their wallet by then. Over the past 24 hours, the investor swapped 18,437 ETH for USDC, a stablecoin that stays close to the value of the U.S. dollar. They used Uniswap, a decentralized exchange that lets people trade crypto without using a traditional platform.
The investor didn’t sell everything at once. Instead, they broke it into smaller trades of around 1,400 ETH each. This may have helped them avoid alarming other traders. When whales—people or entities who hold at least 10,000 ETH—make large moves, it often causes others to react. Large sales can trigger panic or sudden drops in price. ETH whales are a small group, but they hold big power in the market. One whale can shift the price just by moving their crypto. That’s why their trades often attract attention.
Ethereum’s price recently dropped over 7% in 24 hours, reaching around $1,517. It’s still down about 70% from its all-time high of $4,878 in 2021. Many investors still remember those highs and wonder when ETH might get back to those levels. Price swings like this are part of the crypto market. Sometimes outside events affect prices too. Recently, former President Trump announced new tariffs. Investors saw this as a reason to sell off risky assets like cryptocurrencies and tech stocks.
Ethereum fell to a two-year low of $1,410 but then bounced back to $1,550, gaining 10% in one day. That kind of swing shows how quickly crypto prices can change. It also highlights how fragile investor confidence can be. Over just two days, Ethereum dropped 27%, leading to massive sell-offs. Platforms that deal in Ethereum futures saw over $370 million in liquidations. This means many traders lost their positions and money as prices fell. Data from Coinglass and Santiment shows that short-term holders took the biggest hit, losing almost $500 million in one day.
Another whale sold over 53,000 ETH, worth more than $74 million. That sale helped trigger more liquidations across platforms like Aave. Aave is a lending protocol where users borrow and lend crypto. When prices fall, loans secured with ETH can get wiped out. Aave lost nearly $162 million in a wave of forced liquidations. This shows how DeFi, or decentralized finance, can quickly become unstable when prices drop. DeFi uses smart contracts to handle loans, trades, and other transactions without banks or brokers. But it also carries risks.
One large DeFi investor recently moved 10,000 ETH and over 3.5 million DAI to adjust their collateral level. They now face liquidation if ETH drops below $1,119. If that happens, it could lead to another big sell-off. When DeFi loans go bad, the system often sells ETH to cover losses. This puts even more pressure on the market. These risks make ETH prices more unstable. Traders watch these whales and their actions closely because one move can set off a chain reaction.
Even with these problems, some signs show that Ethereum’s base remains strong. On-chain data shows that the total value locked (TVL) on Ethereum hit 30.2 million ETH as of April 6. That’s a 22% increase over the past month. This growth is better than what’s been seen on Solana and BNB Chain. More value locked means more people are using the network, which is good for long-term growth. People still build and use apps on Ethereum even when the price drops.
Ethereum’s upcoming Pectra upgrade was recently delayed to May 7. While this caused concern, testing has been successful. The upgrade is expected to improve speed and lower costs for users. Still, delays can affect market sentiment, especially during times of price weakness. Traders need strong signals that the project is moving forward to stay confident.
Right now, Ethereum faces some important price levels. The current price is stuck below $1,620, a level many traders see as key. If ETH rises above this, the price could move up fast. But if it stays below or falls further, more drops may come. Support levels are at $1,505 and $1,420. These are areas where buyers might step in. If ETH drops below $1,420, it could fall all the way to $1,000. Many traders are watching that level as a major test. On the way up, resistance may show at $1,700, $1,720, and $1,820. These are prices where sellers might return.
Futures premiums and options data show a mixed view. While sentiment is cautious, the market hasn’t hit panic. Traders are watching carefully but not fleeing yet. Metrics like open interest and funding rates hint at slow confidence rather than total fear.
Ethereum continues to ride waves of volatility. Between whale activity, liquidations, and macroeconomic uncertainty, the path ahead remains bumpy. Inflation worries and interest rate speculation add pressure. When investors feel unsure about the economy, they often avoid risky assets like ETH.
Still, Ethereum shows signs of staying power. Its strong on-chain data, high value locked, and active development give it a base that many other coins lack. While short-term movements may stay rough, long-term users keep building and holding. Ethereum whales might scare the market at times, but they also remind everyone just how far ETH has come—from $8 to over $1,500 in less than a decade.
