Ethereum Faith Crisis! Ancient Whales Flee en Masse, Selling Off ETH!
TradingKey - Ancient Ethereum whales continue to sell ETH, putting more pressure on its price.
Recently, the exodus of ancient Ethereum whales has continued. Since March, seven whales have transferred and sold a total of 27,700 ETH. Here are the details:
Whale Address | Date | Amount | Year | Cost |
0xbc09... | April 2 | 2001ETH | 2017 | $277 |
0x55f3... | April 1 | 1000ETH | 2015 | $0.31 |
0xddbd... | March 31 | 5000ETH | 2015 | $0.31 |
0x620a... | March 29 | 1700ETH | 2015 | $0.31 |
0x1C11... | March 26 | 10000ETH | 2015 | $0.31 |
0x2eb0... | March 11 | 7000ETH | 2015 | $0.31 |
0x55Df... | March 2 | 1024ETH | 2015 | $0.31 |
Most of these whales acquired ETH through ICOs. In the early days, ETH was just one of many cryptocurrencies—It was not yet the second-largest by market cap as it is today. This underscores the level of faith these early adopters, or "ancient whales," had in ETH. However, recent large-scale selling suggests that this confidence may now be crumbling.
In the current bull market, ETH has underperformed compared to BTC. Over the past year, ETH has dropped nearly 50%, while BTC has gained more than 25%. Standard Chartered previously warned that Ethereum is facing structural decline, slashing its year-end 2025 price target for ETH by 60%—from $10,000 to $4,000.
The rise and fall of ETH and BTC in the past year, Source: CoinMarketCap.
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