Ethereum rallies past $2.5K despite a major whale liquidating 167,855 ETH ($408M) over five days.
Macro & Markets ·
Ethereum surged over 4% to reach $2,530 intraday, lifting its market cap above $300 billion and market dominance past 11%. The rally coincided with a major whale completing the liquidation of 167,855 ETH tokens—worth $408 million—across a five-day selling window that began at the start of the month. The whale transferred the tokens to exchanges in two large batches, first moving $174 million and then an additional $253 million to multiple trading platforms, according to monitoring by Lookonchain.
The offloading presents a rare case of a substantial single-holder exit coinciding with upward price momentum rather than suppressing it. After dipping below $2,400 during the selling pressure, Ethereum recovered to trade above $2,500, maintaining its daily gains despite the known liquidity event. The whale's identity remains unknown, and the mechanics driving the price rebound amid such concentrated selling pressure—whether from broader market demand, strategic purchasing, or reduced sell-side pressure post-liquidation—have not been detailed. What is unclear is whether additional large holders have moved their positions during this period or whether the whale's exit marks a broader shift in whale positioning more widely.