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ETH Whales

Is Ethereum Preparing for a Big Move? Whales Reactivate with Massive Transfers

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  • Ethereum whales reactivate as large ETH transfers to exchanges like Kraken and Anchorage Digital stir market interest.
  • Major Ethereum ICO wallet 0xddb unloads $21.5M in ETH, signaling possible changes in future market activity.
  • Paradigm moves 96,955 ETH, suggesting preparation for significant trades or listings on platforms like Binance or Coinbase.

Ethereum’s majors are moving again as important ETH transactions have occurred. According to the analytical platform Spot On Chain, large Ethereum wallets are becoming active again at the moment. Significant amounts have been moved to exchanges such as Kraken and Anchorage Digital. This shift has compelled the attention of traders and analysts observing the market, as it may herald change in Ethereum’s market structure.

Major Ethereum Transfer to Kraken

One of the major transfers was with an Ethereum ICO address, 0xddb, connected to the Ethereum Foundation. This wallet had been inactive for six years before reactivation on March 10. It transferred 1,001 ETH, which at the time was equivalent to 1,580,725 USD, to Kraken. This was the first strategic action since reactivation was done. The whale has since unloaded 12,891 ETH, which would amount to $21.5 million.

In these transactions, the ETH was bought and sold at an average price of $1,668. Still, the whale retains 28,000 ETH, which has an equivalent market value of $44.1 million. Such movements have elicited sentiments on future trading activity among the whales. These transfers are widely observed in the ETH market by participants interested in whether these are signs of further market shifts.

Another major transfer came from Paradigm, which is one of the most popular institutional investors. Paradigm shifted 5,500 ETH, or the equivalent of 8.68 million USD, to Anchorage Digital. This is also to bring an end to the nine-month break previously recorded in the center previous economic activities. Paradigm has been transferring substantial amounts to this institutional platform since January 2024.

Paradigm’s Massive ETH Transfer

As of now, Paradigm has transferred 96,955 ETH worth $301.5 million to Anchorage. These transfers were made at an average cost of $3,109 for each ETH. The movement may indicate that Paradigm could be in the process of preparing for a bigger deal. Some predict that these may be preparing the stage toward listing on other exchanges such as Binance or Coinbase.

This movement of getting the Ethereum wallets activated again is important. Such large-scale transfers may be made by whales, which is likely to cause a shift in market characteristics. The transformation may mean that swap whales are ready to resist the possibility of taking profits or creating massive volumes. Such moves may cause fluctuations in the price of ETH in the market. Analysts will keep their eyes peeled to see the effects of these changes on Ethereum even further.

Ethereum Whales Dump 500K ETH as Dominance Crashes to 5-Year Low

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Key Takeaways:

  • Whales have offloaded over 500,000 ETH in the past 48 hours, intensifying selling pressure.
  • ETH’s dominance has plunged to 8%, marking a 60% drop since mid-2023.
  • Record-low fees and burn rates post-Dencun upgrade have worsened ETH’s inflation problem.

Ethereum’s recent price movement may seem calm on the surface, but a deeper look reveals rising undercurrents. In the last 48 hours, top market observer Ali drew attention to a major selloff by a big investor, with over 500,000 ETH being unloaded, according to data on-chain by Santiment.

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This precipitant offloading places significant stress on the asset, which already suffers from systemic issues. Even as ETH prices ticked up briefly by 1.55% over the past four hours to $1,797.07, the context is alarming.

This short-term rebound does little to counteract the long-term downtrend in Ethereum, especially if big players are selling out. Although short-term rallies tend to mask structural issues beneath the surface, Ethereum’s are already beginning to manifest in the figures.

Ethereum Network Activity Crash Triggers Inflation Spiral

CryptoQuant’s recent analysis reflects Ethereum’s underlying issue: diminishing network usefulness. From the start of 2025, the active count of addresses on the Ethereum network has been continuously declining.

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That decrease in user involvement has been a contributing cause to transaction fees and block rewards hitting historical lows, a trend that undermines the very inflation-dampening mechanism that Ethereum depends on.

Dencun upgrade, previously touted as a game-changer, seems instead to have accelerated the problem. Crash in average fees caused the burn rate of Ethereum to hit a since-the-Merge low, with new issuance surpassing destruction.

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What this does is create a net inflationary environment, watering down the worth of ETH over the long run. In short, Ethereum’s producing more than it’s burning, a potentially disastrous trend for any asset intended to appreciate in value.

ETH Dominance Collapse Signals a Market Turning Point

Rekt Capital’s recent analysis indicates a precipitous fall in ETH’s dominance from a June 2023 level of 20% to a current level of just 8%. That’s a collapse of 60% in a little over one year. ETH Dominance is the proportionate weighting of the total crypto market cap minus Bitcoin, and the fall presents a bleak image of diminishing confidence in the market.

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The chart, shared on April 4, indicates that Ethereum is back in a familiar historical support zone (7.5%–10%) last tested in 2019 and 2020. In both cases, ETH managed to reverse its fortunes.

But the current context is more complicated: Bitcoin dominance increased to 62%, and Ethereum dropped by 44% in Q1 2025. Layer-2 congestion, increasing regulatory friction, and diminished investor interest all contribute to this long-standing weakness.

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