The Ethereum whales are cashing out again! 2.15 billion chips are flooding out, will the price be impacted?
Ethereum is currently facing a large profit-taking wave, and we focus on the holding actions of three types of whales—these three types are also the main "decision-makers" in the Ethereum market: Type A holds 1,000 to 10,000 Ethereum, Type B has 10,000 to 100,000, and Type C holds over 100,000 Ethereum as big players.
From the data, it can be seen that whenever these whales cluster together to sell coins in large quantities, the market usually cannot withstand the pressure. For example, in March, June, and December 2024, they sold $1 billion worth in just one day.
If the market cannot cope with such a large quantity in the short term, Ethereum's price will decline in phases.
A similar situation occurred in July this year: after Ethereum broke through $3,500, the whales cashed out more than $1 billion. However, at that time, companies like BMNR and SBET in the U.S. were buying crazily, and the market's absorption capacity was very strong. Ethereum not only did not drop but also rose all the way up.
Until August when the price surged to $4,750, the whales sold off $1.8 billion, directly crashing Ethereum back to $4,077.
Recently, these whales have moved again!
On September 18, Type A whales sold $1.5 billion worth of Ethereum in a single day, along with Types B and C, totaling $2.15 billion. Interestingly, the chips sold did not enter exchange accounts, presumably aiming to sell through over-the-counter (OTC) channels.
Whether this will crush the market depends on whether market makers can absorb these OTC chips. If the OTC cannot take all of it, it will ultimately have to go to the exchanges for sale, which will definitely have a significant impact on Ethereum's price.
Therefore, we urge all "E Guardians" and "E Strategies" to take action quickly and capture these cashing-out "rebels"!
