Crypto Whale Offloads 10,070 Ethereum – Is ETH Losing Its Appeal?

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2025 hasn’t gotten off to a promising start for Ethereum (ETH), as the second most valuable digital currency by market cap remains trading below its annual opening price. Recent activity on the blockchain also hints at a decrease in crypto whales’ faith in ETH’s ability to provide substantial returns.

Are Whales Losing Faith In Ethereum?

2024 saw remarkable growth for cryptocurrencies such as Bitcoin (BTC), SUI, and Solana (SOL), with impressive gains for their investors and fresh records being set. However, Ethereum’s progress in the same year could be described as relatively less noteworthy compared to its peers.

In contrast to other comparable assets, I find that Ethereum’s all-time high ($4,878) hasn’t been surpassed since November 2021. This underscores a comparatively less robust price growth for ETH in the past year as compared to its peers who set new all-time highs in 2024.

Additionally, Ethereum consistently struggled to break through the persistent $4,000 barrier throughout the year 2024. At present, Ethereum is trading around the lower end of $3,000, which represents a roughly 35% drop from its all-time high.

As a researcher, I’ve recently observed that my analysis of on-chain data suggests Ethereum’s underperformance is causing concerns among its major investors. Based on a recent post from the crypto tracking account, Lookonchain, it appears some whales have initiated sell-offs of ETH at a loss.

According to the post, it appears that three digital wallets, possibly belonging to the same large investor (referred to as a ‘whale’), sold 10,070 Ether for approximately 33 million DAI. This transaction took place at a market price of around $3,280 per ETH, leading to an estimated loss of one million dollars for the whale.

It’s intriguing to note that this specific whale seems to be an experienced investor in the market. In December 2024, it transferred out approximately 24,029 Ether, which was equivalent to more than $81 million at the time, from Binance. Despite the recent transaction, this whale continues to possess 13,959 Ether, which is currently worth around $45.48 million.

As a crypto investor, I can’t help but express my apprehension concerning the Ethereum Foundation’s consistent pattern of selling Ether at market peaks. A recent article by Spot On Chain has shed light on the fact that the foundation has already liquidated some ETH in 2025. In the year prior, they disposed of a substantial amount of 4,466 ETH for approximately $12.61 million, which raises doubts about their decision-making and strategic approach.

Can ETH Make Amends In 2025?

Despite a relatively quiet year for Ethereum’s price movement in 2024, there’s optimism for 2025 as it builds on solid fundamentals and growing institutional interest. For instance, the US Securities and Exchange Commission (SEC) recently gave the green light to the first exchange-traded funds that combine Bitcoin and Ethereum, indicating a broader mainstream adoption.

Looking at its technical aspects, it seems Ethereum might be making progress. Recent assessments suggest a possible inversion of the head-and-shoulders pattern on the 3-day graph, which could potentially help ETH surmount the hurdle of $4,000.

Furthermore, historical records show that Ethereum typically surpasses other digital currencies during January following a U.S. election year, which boosts optimism about its price trend. Currently, Ethereum is trading at $3,210 and has increased by 6% in the last 24 hours.

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2025-01-15 16:41