Ethereum Whale Offloads $33 Million In ETH At A Loss As Crypto Sinks 11% In A Week — This Is What Indicators Suggest
Ethereum Whale Offloads $33 Million In ETH At A Loss As Crypto Sinks 11% In A Week — This Is What IndicatAn investor dumped Ethereum ETH/USD tokens at a loss on Sunday as the second-largest cryptocurrency capped off the week with double-digit negative returns. What happened: A prominent whale, which controlled three wallets, swapped 10,070 Ether for 33 million in stablecoin Dai DAI/USD, losing a million in the sale, according to Lookonchain. The investor withdrew 24,029 Ether for a little over $81 million from cryptocurrency exchange Binance three weeks ago. After the latest sale, the investor was left with a bag of 13,959 ETH, worth $45.48 million. However, the bearish sentiment wasn’t limited to any single entity. According to blockchain analytics firm IntoTheBlock, net inflows to exchanges spiked 791% to $338 million in the last 24 hours, suggesting that more ETH was entering than leaving exchanges, presumably to be sold off. Large transactions, valued at $100,000, also jumped by over 70%, implying greater engagement by whales. See Also: US Government Silk Road Bitcoin Holdings Drop To 0 Amid Report DOJ Approved To Sell $6.5 Billion Worth Of Crypto Why It Matters: The second-largest cryptocurrency was in the middle of a corrective phase that has eroded over 11% of its value in a week. The coin’s momentum indicators painted a bearish picture. The Moving Average Convergence Divergence indicator, which compares a stock's short-term price to its long-term price, flashed a ‘Sell’ signal, according to TradingView. The Relative Strength Index, used to measure if the asset is overbought or oversold, was in the “Neutral” zone. However, derivatives traders were confident of a recovery. More than 82% of all traders on Binance with an active contract were long on Ethereum, according to the Long/Short Ratio. Price Action: At the time of writing, Ethereum was exchanging hands at $3,250.93, down 0.92% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the coin was down 2.86%, compared to a 46% upside in 2024. Read Next: Trump-Themed NFTs Debut On Bitcoin Network — One Card Gets Listed At $1.9 Million Photo courtesy: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.