Ethereum Whale Sells, Pressuring ETH Price

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Despite strong institutional inflows into spot Ethereum ETFs, the price of Ethereum (ETH) continues to face downward pressure — driven largely by significant selling activity from large holders, commonly known as "whales." On-chain data reveals that whale movements, including mass transfers to centralized exchanges and the reactivation of dormant wallets from the 2015 ICO era, are contributing to market uncertainty. At the same time, corporate adoption remains robust, with companies like SharpLink Gaming making substantial ETH purchases. This dynamic tension between whale sell-offs and institutional accumulation is shaping the current narrative around Ethereum’s price trajectory.

👉 Discover how institutional moves and whale activity are reshaping Ethereum’s market outlook.

Whale Withdraws Over 95,000 ETH Amid ETF Inflows

According to blockchain analytics platform EmberCN, a major Ethereum whale has withdrawn 95,313 ETH over the past three weeks. This comes at a time when spot Ethereum ETFs have seen consistent net inflows, with BlackRock’s ETHA leading much of the momentum in one of the top-performing altcoins of the year.

Of the total amount withdrawn, over 68,000 ETH — worth approximately $165 million — has been transferred to centralized exchanges (CEXs). Such movements often signal potential selling pressure, as assets moved to exchanges are typically easier to liquidate.

Many are asking: with continuous ETH ETF inflows and corporate buyers like SharpLink Gaming accumulating ETH, why is $ETH still underperforming?

The answer might be simple: other whales or institutions are offloading.

For example, this whale recently unstaked 95,313 ETH from two addresses and has already sent 68,182 ETH (~$165M) to exchanges.
— 余烬 (@EmberCN) July 1, 2025

This particular whale originally staked ETH at an average price of $2,878. However, recent transfers occurred at an average price of $2,431 — indicating an unrealized loss of roughly $42.6 million. This suggests either strategic rebalancing or capitulation amid ongoing market volatility.

Meanwhile, net inflows into spot Ethereum ETFs have surpassed $4.2 billion**, signaling strong institutional confidence. On June 30 alone, U.S.-listed Ethereum ETFs recorded $31.6 million in inflows, with Fidelity’s FETH accounting for $25.7 million of that total. Last week marked the seventh consecutive week of positive net flows**, totaling 106,000 ETH — reinforcing Ethereum’s status as a key player in the evolving digital asset landscape.

As $ETH](https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw) rebounded from $2.2K to $2.5K, institutional appetite followed. Spot [#ETH](https://twitter.com/hashtag/ETH?src=hash&ref_src=twsrc%5Etfw) ETFs recorded 106K [$ETH in net inflows last week — marking the 7th consecutive week of positive flows.
— glassnode (@glassnode) June 30, 2025

Dormant ICO-Era Wallet Moves 1,000+ ETH

Adding to market sentiment, a long-dormant Ethereum wallet dating back to the 2015 ICO era has reactivated after nearly a decade. According to Etherscan data, the wallet holds over 1,000 ETH, originally acquired during Ethereum’s Genesis event for just $310.

At current market prices, the wallet’s holdings are valued at approximately $2.44 million — representing an extraordinary 7,870x return on investment. While there has been no confirmed sale yet, any movement from such a historically significant wallet can trigger volatility and speculative trading.

The reactivation highlights how early investors are now in a position to realize massive gains, especially as Ethereum continues to mature as a financial and technological platform. Such events often serve as psychological triggers in crypto markets, where long-term holders exiting can shift investor sentiment rapidly.

👉 See how early investors are cashing in on decade-old crypto holdings.

Corporate Adoption of ETH Remains Strong

Despite whale sell-offs and profit-taking from legacy wallets, corporate demand for Ethereum remains strong. On-chain data from Arkham Intelligence shows that SharpLink Gaming purchased an additional 4,951 ETH — valued at $12.4 million — in a single over-the-counter (OTC) transaction within the past six hours.

This follows their earlier announcement of acquiring **188,478 ETH ($473.6 million)** at an average price of $2,513 per coin. SharpLink’s continued accumulation positions it as one of the most aggressive corporate adopters of Ethereum — drawing comparisons to MicroStrategy’s Bitcoin strategy.

SharpLink Gaming (@SharpLinkGaming), which previously announced a purchase of 188,478 $ETH](https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw)($473.6M) at $2,513, bought another 4,951 [$ETH($12.4M) via OTC in the past 6 hours.
— Lookonchain (@lookonchain) July 1, 2025

Fundstrat analyst Tom Lee — recently appointed chairman of BitMine Immersion Technologies — has echoed this bullish sentiment, stating he is ready to build a “MicroStrategy for Ethereum.” If more corporations follow this model, allocating balance sheet capital into ETH as a long-term reserve asset, it could drive substantial price appreciation — potentially pushing ETH toward $3,000 in the near term.

Key Market Drivers: Whale Activity vs Institutional Demand

The current Ethereum market is defined by two opposing forces:

While short-term price action may be influenced by whale movements and profit-taking from early investors, the long-term fundamentals appear increasingly solid. Ethereum’s role in decentralized finance (DeFi), real-world asset tokenization, and enterprise blockchain solutions continues to expand.

Core Keywords:

These keywords naturally reflect search intent around market trends, investment strategies, and blockchain analytics related to Ethereum.

Frequently Asked Questions (FAQ)

Why is ETH price falling despite ETF inflows?

Even with strong institutional demand through spot ETFs, large sell-offs by whales and profit-taking from long-dormant wallets can create short-term downward pressure. Market sentiment often reacts more sharply to exchange inflows than gradual accumulation.

What does a whale transferring ETH to exchanges mean?

When large holders move ETH to centralized exchanges, it typically indicates potential selling activity. While not all transfers result in immediate sales, they increase the likelihood of near-term supply hitting the market.

Is corporate adoption of Ethereum growing?

Yes. Companies like SharpLink Gaming are actively adding ETH to their balance sheets through OTC purchases. This trend mirrors early Bitcoin adoption by firms like MicroStrategy and suggests growing confidence in Ethereum as a long-term store of value.

How much profit did the ICO-era wallet make?

The wallet acquired over 1,000 ETH for $310 in 2015. At current prices (~$2,440), its holdings are worth about $2.44 million — a return of over 7,870 times the original investment.

Could ETH reach $3,000 soon?

Analysts like Tom Lee believe so, especially if corporate treasury adoption accelerates. Combined with sustained ETF inflows and network upgrades, a move toward $3,000 is within reach if selling pressure from whales subsides.

Should investors worry about whale activity?

Whale movements are normal in crypto markets. While they can cause short-term volatility, long-term investors should focus on fundamentals like adoption, network security, and institutional interest.

👉 Stay ahead of whale moves and track real-time Ethereum market trends here.

Conclusion

Ethereum stands at a pivotal moment: legacy investors cashing out profits clash with new institutional players building long-term positions. While whale sell-offs and dormant wallet activity may weigh on price in the short term, the broader trend points toward deeper integration of ETH into mainstream finance. As corporate adoption grows and ETF momentum continues, Ethereum’s foundational strength could ultimately outweigh temporary selling pressures — setting the stage for a resilient bull run ahead.