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Is Ethereum Headed to $2,142 or Back Below $1,400? What Charts Reveal Today

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  • Ethereum shows signs of accumulation despite mixed short-term technical signals.
  • Major resistance levels at $1,800 and $1,895 remain key to bullish momentum.
  • DeFi stagnation and bearish fractals suggest caution despite long-term optimism.

Ethereum (ETH) is currently trading at $1,772.87, a 0.95% increase from the last 24 hours, while its 24-hour trade volume fell 6.78% to $15.47 billion. Over a seven-day period, however, ETH has seen an 11.41% increase to trade at $1,771.90 on average. The most current price action, however, indicates a complicated combination of uncertainty and expectation from traders and investors alike.

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Source: CoinMarketcap

Technical indicators remain mixed. Ethereum hovers above its $1,750 support level but with weakening momentum. A bearish divergence on the MACD and a 1.82% daily loss on above-average volumes signal selling pressure. Yet, a high discovery rate of 84% and the 8.96% momentum reading reflect ongoing underlying strength.

The RSI at 57.61 remains neutral, while the ADX at 86.2 verifies the strong trend but is coupled with a negative crossover in the MACD. For bullish continuation, Ethereum needs to retake the $1,800 mark. Alternatively, a breakdown below $1,734 might initiate a further correction. Technical analysts suggest waiting for confirmation to go long, especially at the key $1,800 and $1,734 levels.

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Source: X

Ethereum records largest single-day ETH inflow

In a surprising show of faith, Ethereum just recorded its largest single-day accumulation inflow ever, 449,000 ETH, valued at approximately $786 million, entered accumulation addresses on April 22. This surge came even as prices dipped into the $1,400 range, pointing to long-term holder conviction rarely seen since 2018.

In spite of this milestone of accumulated amount, the prices of most of these addresses have a realized value of $1,981 and hence remain underwater, indicating the possibility of further downside. Nevertheless, the 10% increase in active addresses between April 20 and 20–22, from 306,211 to 336,366, puts bullish sentiment at the network level into perspective. The differences between the increasing network engagement and stagnant DeFi action, however, question the sustainability of the momentum.

Trader warns of bearish pattern forming

Ethereum is at a key resistance area close to $1,895, where 1.64 million ETH was built up in November 2024. This area also coincides with the 50-day EMA, or traditional trend metric. A failure to clear this level may consolidate Ethereum’s current macro bearish trend.

Veteran trader Rektproof signaled a possible bearish fractal, matching previous setups that created significant price declines. If Ethereum cannot hold support, a retest of $1,400 becomes possible. For any possibility of bullish reversal, analysts confirm that a close above $2,142 on the daily timeframe is critical to break the existing lower high and lower lows structure.

Ethereum’s Pectra Upgrade Is Coming, But What Changes Will It Bring?

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  • Ethereum will launch the Pectra upgrade on its mainnet on May 7, 2025.
  • The upgrade includes EIP-7702, which adds smart contract features to standard accounts.
  • Pectra will double the number of data blobs per block to improve Layer 2 scalability.

Ethereum will launch its Pectra upgrade on May 7, 2025, marking a key milestone in its development roadmap. The update brings more scalable performance features, essential validator requirements, and better user interaction. According to Tim Beiko, the update will be released during epoch 364032 after the testnet experienced brief obstacles.

New Upgrade Transforms Ethereum Wallet Usage

EIP-7702 will allow externally owned accounts (EOAs) to act like smart contracts, which broadens Ethereum’s functionality for everyday users. Upgraded accounts introduced from EIP-7702 can execute transaction batching and gas fee sponsorship and perform asset recovery while retaining assets in the initial wallet. This change aims to simplify the user experience and improve overall wallet security on the Ethereum network.

The proposal adds built-in complex capability that had previously required contract wallets, thus allowing wider use by non-technical account owners. This innovation establishes essential infrastructure required by programs that need dynamic wallet management systems, such as automated financial solutions and decentralized wallet services. The enhancement reflects Ethereum’s broader push toward making the network more intuitive without compromising its decentralized nature.

By enabling EOAs to interact in more advanced ways, Ethereum moves closer to a unified account system that empowers users. The adoption level increases while use cases benefit from advanced account logic through this evolution. Developers have new opportunities to construct better tools and applications using intelligent and efficient accounts.

Pectra Upgrade Enhances Staking and Security

The Pectra upgrade also introduces major improvements for Ethereum validators, boosting performance and reducing operational costs. Pectra validators enhance their reward efficiency while avoiding managing multiple validator keys by raising their effective staking balance to 2048 ETH. The changes applied to the peer-to-peer network improve its functionality by easing stress and reducing damage.

The upgrade removes the Proof of Work (PoW) follow distance rule, reducing the time needed to process deposits. Deposit processing and execution-layer-triggered withdrawals improve staking flexibility and quickens the processing time. Participants now have trustless security through withdrawals when setting up their staking activities.

The validator improvements align with Ethereum’s aim to streamline operations and reduce network load. The network achieves less complexity while reducing communication costs through fewer validator accounts that maintain greater balance amounts. This approach also helps Ethereum scale without compromising security or decentralization principles.

Ethereum Prepares for dApp Demand Surge

Ethereum’s Pectra upgrade increases the number of data blobs per block from 3 to 6, doubling current capacity. The upgrade allows Optimism, Arbitrum, and other L2 networks to scale quicker because they process larger amounts of data through each transaction. The extra data blobs will enable Ethereum to fulfill increasing demands from users of decentralized applications.

Through EIP-7623, network stabilization during peaks becomes possible through block size restrictions, which support the Pectra upgrade. The modified blob limit improves Layer 2 data availability while preventing the mainnet from encountering excessive size challenges. The development provides a secure method for expansion that maintains system performance and security levels.

With this boost, Ethereum positions itself as a more robust platform for decentralized finance, gaming, and social applications. The foundation of Layer 2 projects receives improved efficiency, allowing them to establish innovation and achieve mass adoption. This scalability step confirms Ethereum’s commitment to handling future growth while staying developer-friendly.

Cardano’s Charles Hoskinson Predicts Ethereum Collapse Within 15 Years

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  • Charles Hoskinson believes Ethereum may not survive beyond the next 10 to 15 years.
  • He criticized Ethereum’s Proof-of-Stake model as unsustainable for long-term growth.
  • Hoskinson argued that Ethereum’s layer 2 networks harm rather than help the mainnet.

Cardano founder Charles Hoskinson has projected a grim future for Ethereum, questioning the network’s survival beyond 10 to 15 years. He highlighted several critical flaws that could hinder Ethereum’s ability to adapt and evolve in the rapidly advancing blockchain space. During a recent AMA session, he addressed major concerns that, in his view, threaten Ethereum’s relevance and growth.

Ethereum’s Structural Challenges Raise Concerns

Charles Hoskinson criticized Ethereum’s foundation, arguing that its consensus protocol is flawed and not sustainable over the long term. Hoskinson stated that the Proof-of-Stake system in its current state does not work well for sustained scalability and stable network performance. According to him, the current architecture makes it difficult for Ethereum to develop further without adding extra layers of complexity.

Hoskinson focused on the dimensions of Ethereum’s development, which relies on outside solutions to enhance scalability, specifically implementing layer 2 networks. According to him, these solutions operate independently of the Ethereum mainnet instead of acting as linked components. System fragmentation has made management a challenging task, according to his warning.

Additionally, Hoskinson criticized Ethereum’s governance model, noting that decisions are made off-chain in informal environments. According to Hoskinson, this weakness impacts the network’s decision-making power and slows down the consensus-building process. He presented an alternative on-chain governance model to establish transparency and accountability for the ecosystem.

Cardano’s Model as a Direct Counterpoint

Hoskinson pointed to Cardano’s development model as a better alternative to Ethereum’s current path. According to him, Cardano implements an enhanced consensus method that guarantees durability and reduces power usage throughout operations. The model enables continuous hardware and performance improvement through its features.

Cardano implements governance through an automated system that engages all community members in making important network choices. He asserted that this method would improve developer participation and minimize stakeholder conflicts. This system enables the network to advance steadily while keeping its development focused in the right direction.

During the interview, he explained that Cardano uses sidechains like Midnight to support the network instead of creating competitive features. Engineers have created chains for unique purposes, bringing advantages to the entire ecosystem. According to Hoskinson, this contrasts sharply with Ethereum’s more parasitic layer 2s.

Charles Hoskinson Sees Ethereum Losing to Rivals

Charles Hoskinson noted that other platforms, including Sui and Solana, continue to innovate and attract attention from developers and users. These alternative ecosystems present different answers that compete against Ethereum networks, which have traditionally ruled smart contracts. The platforms emphasize quick execution time, superior efficiency, and governance features representing Ethereum’s alleged weaknesses.

He anticipates Bitcoin will gain DeFi features to attract users who will leave Ethereum in the process. New solutions emerging in the market may hasten Ethereum’s downfall because they offer stronger appeal to developers and investors. Developing new blockchain innovations will remove funds and attention from the Ethereum projects.

Solana Surges as Galaxy Digital Dumps $100M ETH Amid Meme Coin Boom

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  • Galaxy Digital swapped $105 million in ETH for Solana over two weeks, as Solana gained traction in meme tokens and DEX activity while Ethereum declined by 20%.
  • In the past three months, Solana has surpassed Ethereum in DEX trading volume amount and number of active users, showing that more people are using Solana and its ecosystem is getting stronger.

Solana has received nearly $105 million worth of Ethereum from Galaxy Digital, one of the leading crypto asset manager, in a strategic move due to the recent increase in the popularity of meme coins and the rapid growth of decentralized exchanges on the network.

According to on-chain data from Arkham, Galaxy Digital moved a large amount of Ethereum from their wallet to Solana over the past two weeks, mostly using Binance for the transfers. The data showed that the firm swapped 65,600 ETH worth around $105 million and received about 752,240 SOL, valued at roughly $98.37 million.


The company made this move after the price of Ethereum fell by 20% in a month and Solana went up by 8%. After the swap, it was recorded that Galaxy had 55,760 ETH left and 171,250 SOL. The timing suggests that Galaxy likely sees Solana as a stronger asset with more users, lower fees, and daily growing activities.


Solana Surpasses Ethereum in DEX Volume


In the last month, Ethereum has continually struggled with its falling price and slow network activities. An analysis from dune.com properly highlights this shift, showing that the decentralized exchange (DEX) volume on Solana passed $395 billion in the last three months, compared to Ethereum, which sits at $364.65 billion.

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Solana Surges as Galaxy Digital Dumps $100M ETH Amid Meme Coin Boom 4


Solana is also leading with a little over 224 million active addresses, while Ethereum and its Layer-2 networks have just over 79.04 million combined. Following this recent change, the price of ETH has dropped again to the $1,600 range, showing more possible liquidations. Meanwhile, SOL climbed back to $140, with expectations of it growing as its on-chain activity rises.

The activities on Solana have also grown thanks to Pump.fun and PumpSwap, the new exchange launched by the platform.

Ethereum Foundation Moves 1,000 ETH—Is a Price Crash Coming Next?

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  • The Ethereum Foundation transferred 1,000 ETH to the Kraken exchange on April 22, signaling a possible sell-off.
  • Ethereum is downtrend, showing weak momentum and facing resistance despite a minor daily gain.
  • In 2024, the Foundation sold 4,466 ETH, which previously led to short-term price drops in the market.

The Ethereum Foundation transferred 1,000 ETH to Kraken on April 22, signaling a possible intent to sell. The strategic foundation movement has sparked market-wide concerns about another price downfall because Ethereum continues its steep downward trajectory. This transaction occurs as Ethereum maintains weak momentum because short-term price gains meet growing opposition to higher values.

Previous sell signs from the Ethereum Foundation occurred this year during the first few months. The foundation conducted an ETH sale of 4,466 tokens during 2024, which resulted in $12.61 million in earnings for short-term price movements. Analysis shows that these price changes result in rapid price shifts even though market-wide factors determine long-term price movements.

The cryptocurrency Ethereum maintains a market value of $1,582, rising by 0.25% from its initial drop of 2.76% from the daily opening price. The price experiences tension because macro-level market conditions and Bitcoin’s wild price swings create a negative sentiment. A 1,000 ETH transfer could become a negative market trigger, weakening short-term confidence throughout the market.

Ethereum Faces Key Support Test Near $1,504

The Ethereum market has maintained static price levels for ten straight days, thus indicating a reduction in volatility. This area of price stability tends to lead to upcoming rapid price movements in both positive and negative directions based on outside market influences. A recent foundation movement shows potential as a factor that could shatter present support levels.

Rising pressure exists at $1,504 because the price has repeatedly stabilized near this area. A price below the current support would establish conditions for a significant market decline. A price drop through this support level would result in a strong downward move approaching $1,200, thus strengthening bearish momentum.

The crypto market shows bearish trends, which do not affect Ethereum’s current position above support yet indicate potential future price drops. During the daily time frame, prices continue to form lower highs, showing an upward trend. A powerful uptrend will not occur unless bullish support forms independently. The price will move downward moderately without this more decisive breakout.

Bitcoin Volatility May Intensify ETH’s Correction

The current bullish trend in Bitcoin, which derives from leverage, indicates sustainability concerns. Both Bitcoin and Ethereum tend to follow the same market trend because their asset correlations remain high. If Bitcoin starts losing momentum, Ethereum would immediately follow Bitcoin. Ethereum faces possible deterioration due to an intense Bitcoin market decline.

Ethereum’s price increase needs Bitcoin to maintain its current upward momentum, which reaches $88,000. Assistance from Bitcoin is needed to prevent possible short-term price declines for both digital currencies. Ethereum may test its bottom support areas if Bitcoin fails to maintain essential price points.

Effects on longer market conditions originate from overall market conditions, yet sudden events primarily affect short-term price movements. Previous market trends indicate that the Ethereum Foundation’s transfer led to price corrections in the past. Current market conditions decide whether the past price patterns will reappear.

U.S. Secret Service and Canadian Police Disrupt $4.3M Ethereum “Approval Phishing” Scam

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  • U.S. and Canadian authorities disrupt a $4.3M Ethereum phishing scam.
  • Secret Service experts track and alert victims of compromised wallets.
  • Operation Avalanche prevents further losses in Ethereum approval phishing scam.

A collaborative U.S.-Canadian operation has blocked a $4.3 million approval phishing attack on Ethereum wallet users. The U.S. Secret Service and Canadian law enforcement agencies tracked down and notified the victims. The authorities identified multiple blockchain addresses that were compromised or vulnerable to exploitation.

Scammers use approval phishing to trick users to authorize token transfers after which the fraudsters access control and drain the wallets.. Criminals run these scams through social engineering methods such as the “pig butchering”  romance scheme. Once a victim validates malicious transaction requests the attackers acquire complete control of their assets.

Operation Avalanche

The operation code named ‘Operation Avalanche’ focused on fraudulent Ethereum network transactions. Investigators teamed up with blockchain analysts to identify the wallets affected in the phishing scheme. The team reached out to wallet holders to warn them about the threat and protect their assets.

The operation incorporated multiple law enforcement agencies across Canada and the U.S to stop the ongoing fraud. The B.C Securities Commission and the U.S. Secret Service steered the initiative. Moreover, provincial police forces and securities regulators contributed their skills and resources to the operation.

Analysts derived from the Washington Field Office of the Secret Service provided technical and forensic support for the investigation. The Canadian agencies teamed up with the Secret Service to identify stolen funds and curb future threats. This collaboration helped track transactions and the scammers’ techniques.

Officials disclosed that the hacked wallets had approved token transfers to malicious addresses through their token approval process. This allowed fraudsters to maintain control even when victims did not provide direct fund transfers. These scammers exploited these permitted access to operate undetected and bypass standard security alerts.

Broader “Approval Phishing” Attacks on Ethereum Network

Chainalysis data shows that approval phishing has resulted in approximately $2.7 billion in  cryptocurrency losses between 2021 and 2024. However, the actual total loss could surpass these numbers because many cases are not reported. These scams are sophisticated and affect both individual users and decentralized organizations(DAO).

The Ethereum network has suffered massive losses through approval phishing such as the $120 million attack at Badger DAO. The scammers often target rich NFT collectors and active crypto users. Attackers exploit user trust and limited understanding of wallet permissions.

The operation confirmed the importance of international collaboration to disrupt transnational crypto fraud and cybercrime. The investigators collaborated with a blockchain analysis firm and a cryptocurrency exchange to track the suspicious wallet transactions. This initiative dismantled various criminal networks.

WLFI Denies $8M Ethereum Selloff As USD1 Hits 100M Circulation

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  • WLFI denies selling 5,500 ETH amid reports of an $8M dump, calling speculation “incorrect.”
  • The crypto project’s newest stablecoin, USD1, surpasses 100 million tokens in circulating supply on BNB Smart Chain.
  • WLFI partners with Ondo Finance to integrate tokenized real-world assets like USDY and OUSG.

Trump’s pet crypto project, World Liberty Financial or WLFI, has denied reports that it sold 5,500 ETH earlier this week. Earlier, several reports suggested that a wallet address linked to the crypto project (as labeled by Arkham) dumped nearly $8 million worth of ETH when the price dropped to $1,465.

In response, a WLFI spokesperson stated: “Claims that we sold its holdings are completely false. No assets have been sold, and related speculation is incorrect.” Onchain data dated April 9, also showed how the address seemingly belonging to the project bought 67,500 Ethereum at $3,260, resulting in a loss of over $125 million.

WLFI
WLFI Denies $8M Ethereum Selloff As USD1 Hits 100M Circulation 6


Meanwhile, WLFI’s newly launched stablecoin, USD1 have achieved a new miletone. The circulating supply of USD1, has surpassed 100 million tokens on the BNB Smart Chain (BSC). According to data from BscScan, the current supply stands at 103,489,090 USD1.

Back to back, the Defi project has teamed up with Ondo Finance to advance the adoption of tokenized real-world assets and bring traditional finance onchain. WLFI is exploring the integration of Ondo’s tokenized assets into the network as treasury reserve assets, including USDY (only available to non-US persons outside the US) and OUSG.

Ondo and WLFI Partner on Tokenized RWAs

The crypto project also plans to also integrate USDY, OUSG, and tokenized securities from Ondo’s upcoming Global Markets (only available to non-US persons outside the US to the extent legally permitted) into the WLFI platform, enabling seamless borrowing, lending, and margin trading for eligible users.

Through this collaboration, World Liberty Financial plans to become a strategic collaborator in Ondo’s journey to scale Ondo Global Markets, a platform designed to enable the tokenization of traditional financial assets like stocks and bonds. As part of the collaboration, qualifying WLFI users will gain access to Ondo Global Markets’ tokens, offering exposure to thousands of real-world assets, all fully onchain.

Nathan Allman, CEO of Ondo Finance, said, “We’re thrilled to work with World Liberty Financial to bring the benefits of tokenized real-world assets to their platform and users. This collaboration highlights the growing demand for institutional-grade onchain solutions that deliver stability, liquidity, and utility at scale.”

Ethereum’s Rally: Is It Just a Correction or the Start of a Bullish Wave?

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  • A clear ‘lower low’ formed today for Ethereum, offering a more defined bottom structure compared to Bitcoin.
  • Despite recent gains, Ethereum’s rise could be part of a larger correction, with potential for further movement.
  • Traders should exercise caution, as news-driven rallies like Ethereum’s often fade, requiring patience before acting.

More Crypto Online also noted that Ethereum has established a clear ‘lower low’ today, which makes the bottom structure clearer than Bitcoin. However, the analyst opined that one should wait until the market stabilizes, adding that such a rally based on news is easily wiped out by the market’s strong forces.

Ethereum’s Price Movement

Ethereum has been making positive movements, which have attracted the attention of traders. The analyst further highlighted that even though the rise looks like a big increase, it might not be quite as large. The rise in the price could still be part of a larger correction phase, whereby the rally seems to be slightly too high to be a wave 4, which is a structure seen in the Elliott Wave analysis. On the other hand, the analyst pointed out that it is only a 3-wave move and there is potential for further advance in the days to come.

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Source: X

The analyst also analyzed the possibility of a five-wave up move in the subsequent formation. This means that if Ethereum manages to implement all five waves, it may be the start of a bullish run. This would imply that current price action might be a part of wave 1, which is the white wave in an overall larger uptrend. If this is true, then it is possible that within the next few weeks this correction will be a pullback that is wave (2), which would add to the bullish outlook.

Risks of News-Driven Rallies

However, the analyst advised traders to be cautious while engaging in the trading process. News-driven rallies are similar to those detected for ETH; they experience a rapid increase in price but seldom sustain that activity level. The majority of such rallies could end up invalid, and if traders are not cautious, they will end up on the losing side of the bargain. 

The market of Ethereum is still unstable, and changes in the price depend on many different factors. This is a clear indication that investors and traders should keenly watch the situation as it unfolds. If the situation continues to rise, the chances are that it will increase confidence levels among traders. As of press time, ETH is trading at $1,592, showing an 8.75% increase over the past day.

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Source: TradingView

Though the current price action may be construed as forming a bottom structure, news-driven rallies require patience. The analysis is helpful to those who carefully want to observe the current changes in the crypto space.

Ethereum Developer Virgil Griffith Has Been Freed After 63-Month Sentence

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  • Ethereum developer Virgil Griffith has been released after serving 63 months in prison for giving a speech in North Korea.
  • Griffith was arrested in 2019 and sentenced in 2021 for assisting North Koreans in using cryptocurrencies to bypass sanctions. 
  • The crypto community has mixed reactions to Griffith’s release, with some hopeful for his comeback and others questioning the severity of his prison sentence.

Virgil Griffith, one of Ethereum’s researchers and a former developer, has now been released from prison after serving 63 months. He was jailed in 2019 after giving a speech in North Korea about how blockchain technology could be used, which violated U.S. sanctions.

According to Brantly.eth, former ENS operations director, Griffith was released on April 9th and would spend a few weeks in a halfway house before moving to parole. As of now, there are still limits on the kind of work he can do, so getting a pardon remains very important to him.

Virgil Griffith is an American programmer well known for his work on the Ethereum platform. He also contributed to building the Tor2web proxy with Aaron Swartz and made WikiScanner, a tool that helps track Wikipedia edits. Griffith has written papers on artificial life and also integrated information theory.

The Arrest and Trial of Virgil Griffith

Griffith was arrested in November 2019 after speaking at a cryptocurrency conference in Pyongyang in April that year, and in 2021, he admitted to the charges against him and was then sentenced to 63 months in prison and ordered to pay a $1,000,000 fine for assisting North Koreans in using cryptocurrencies to bypass sanctions. 

He received his prison sentence in 2022 and was given a 63-month imprisonment, but on Wednesday, The U.S. District Court Judge P. Kevin Castel from New York approved his early release, cutting about seven months off. The judge explained that one of the reasons for the shorter time was that Griffith had no past record of crime when he was sentenced.

Crypto Community Reaction to Griffith’s Release 

There have been different reactions to the news of Griffith’s release. Some are excited about his comeback, hoping that his return could lead to a rise in Ethereum prices. On the other hand, others are still in shock by how a speech could result in such a lengthy prison sentence, raising questions about the severity of his punishment.

Related Reading | Trump’s 90-Day Tariff Pause Sparks Surge in Cryptocurrency and Stock Markets

Ethereum Whales Dump ETH Amid $1,200 Price Crash Predictions

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  • Ethereum whales  offload massive ETH ahead of predicted crash.
  • World Liberty Financial liquidates ETH at a loss, faces a $125M hit.
  • Analysts predict Ethereum’s price may stabilize at $1,200 support.

Ethereum whales are dumping their ETH holdings because of increased fears of potential Ethereum price crash. Ethereum whales have recently liquidated substantial amounts of Ethereum because of market uncertainties. The price of Ethereum could experience major fluctuations in the coming days because of massive sell-off by the Ethereum whales. 

Price Crash Fear Triggers Ethereum Whale Capitulation

A long-term Ethereum investor deposited 2,000 ETH valued at $3.11 million. The investor maintained an inactive Ethereum account for more than 7 years. The investor purchased 10,001 ETH for $3.52 million in 2017 and held the ETH during the price peaks. The current unrealized profits for this whale stands at $12.3 million. However, The whale’s unrealized profit could have been $45 million during Ethereum price peaks which shows the risks and benefits of long-term crypto investments.

World Liberty Financial, a decentralized finance venture connected to Donald Trump, has started to sell its Ethereum assets. A severe price depreciation to $1,465 prompted the project to sell 5,471 ETH worth $8.01 million at a loss. World Liberty Financial initially purchased 67,498 ETH at an average price of $3,259 per token which resulted in a major unrealized loss of $125 millions. The project’s Ethereum sale intensifies worries that big market participants are bracing for additional price drops.

Another Ethereum whale liquidated 10,000 ETH which they held for more than 900 days. The $15.7 million sale generated $2.75 million profit for the whale despite missing the peak at $4,000. The whale could have achieved over $27 million in profit if they had sold at the market peak. This shows risks of missing major price points in volatile markets when investors hold through major market fluctuations.

Lookonchain data shows another whale made financial losses when they sold 5,094 ETH to repay a debt. The whale borrowed $80.91 million USDT to purchase 26,235 ETH at $3,084 each. However,the Ethereum price drop has resulted in a $40 million loss for the whale. This shows the risks of leveraging investments in volatile cryptocurrency markets.

Ethereum Prices Stares At Potential Crash

The massive Ethereum whales liquidation could increase pressure on Ethereum prices. Analysts predict a potential price downfall with Ethereum’s current price at $1,578.87 after a 5.6% increase. The current price fluctuations indicate the price could fall deeper prompting a widespread market sell-off.

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Ethereum Whales Dump ETH Amid $1,200 Price Crash Predictions 10

Crypto analyst Ali Martinez has identified $1,200 as the critical support level for Ethereum. Ethereum could potentially achieve stabilization at this price level and avoid additional drops. Another analyst, venturefounder, claims Ethereum may have reached or is approaching currently its lowest possible point. However, potential Federal Reserve rate cuts in May could increase liquidity and stimulate Ethereum price recovery.