Ethereum News Today: Ethereum Whale's $1.34B Bet Defies Crypto's Downturn

The board of directors of Chordate has proposed a voluntary liquidation and delisting of the company, citing insufficient working capital and the lack of a viable path to fund continued operations. The delisting process is set to begin with an extraordinary general meeting on December 8, 2025, followed by a formal application to the stock exchange in mid-March 2026. The board argues that the costs of maintaining a listing—both financial and operational—are disproportionate to the benefits, especially given the company's diminished prospects according to the board's statement.

Amid this corporate restructuring, a prominent Ethereum whale has been aggressively expanding its position, purchasing over 36,437 ETH in recent days. The investor, identified as Whale '66kETHBorrow,' has added 19,508 ETH ($61 million) and 16,937 ETH ($53.91 million) to its holdings since November 4, bringing its total Ethereum accumulation to 422,175 ETH, valued at approximately $1.34 billion. Despite Ethereum's recent slide, the whale continues to double down, indicating long-term confidence in the asset's recovery.

The broader crypto market, however, remains in a deep selloff. Bitcoin and Ethereum have both experienced significant declines, with Ethereum struggling to hold above its 200-day moving average. Analysts warn that a breakdown below the $3,000 support level could trigger further losses, while large-scale liquidations—exceeding $170 million in the past 24 hours—highlight the fragility of short-term sentiment. According to FXStreet analysis, Ethereum is under pressure at $2,850 support.

The whale's accumulation strategy contrasts sharply with the current market dynamics. While retail traders and smaller institutions are offloading assets, the investor's actions suggest a belief that Ethereum's current price represents a strategic entry point. This divergence between short-term panic and long-term positioning underscores the market's complexity. If macroeconomic conditions stabilize, the whale's holdings could position them to capitalize on a potential rebound.

Canaan Inc., a major player in the digital mining sector, reported robust financial results for Q3 2025, including a record $1.3 billion in mining revenue and a cash balance of $119.2 million. The firm's treasury now holds 1,582 BTC and 2,830 ETH, reflecting its strategic use of price volatility to acquire additional assets. While unrelated to Chordate's liquidation, Canaan's financial resilience highlights the varying strategies companies are adopting in response to the crypto downturn.

The Ethereum whale's continued buying, coupled with institutional-grade accumulation patterns, may signal a broader trend of strategic positioning. However, the market's immediate outlook remains precarious, with key support levels under pressure and macroeconomic uncertainty persisting.