Ethereum News Today: Ethereum Whale Sells $28.49 Million in 18 Hours Amid Price Stability

A significant Ethereum whale recently offloaded 7,200 ETH in just 18 hours, translating to approximately $28.49 million at an average price of $3,957 per coin. This large-scale transaction occurred against a backdrop of broader Ethereum price movements and drew attention from market participants due to its size and timing. The whale address in question, labeled 0x3c9E, has engaged in similar large ETH sales over the past five days, including a total of 9,000 ETH sold at an average price of $3,863, yielding 34.76 million USDT in return [3].

The move has sparked discussions around market sentiment and volatility, with some analysts suggesting that it could be part of a strategic portfolio rotation rather than a bearish signal. On-chain analytics provider Glassnode noted that the transaction pattern aligns with historical behavior often observed among large Ethereum holders, where significant sales are followed by continued institutional accumulation [1].

Market observers have pointed out that while large whale transactions can temporarily increase volatility, their long-term impact is often mitigated by broader buying pressure. In this case, Ethereum's price rose by 3% during the same timeframe as the sale, indicating that the market may have absorbed the liquidity event without triggering a prolonged downturn. The resilience of Ethereum, even in the face of large sell-offs, has been a recurring theme in recent market cycles [1].

The transaction has also been speculated to be linked to Alliance DAO, though no official confirmation has emerged from the protocol or the Ethereum community. There have been no public statements from DeFi protocols indicating that this sale has caused liquidity issues. The lack of direct reaction from Ethereum’s leadership or key stakeholders has led some to believe the move is more of a technical or strategic shift rather than a panic-driven sell-off [1].

Ethereum’s price currently remains in a consolidation phase, hovering around $3,629 and yet to break through the 100-period simple moving average at $3,689, a key resistance level. This suggests that the market remains cautious, with traders closely watching for further large movements or broader macroeconomic factors that could influence price direction [1].

Analysts have emphasized the importance of viewing whale activity within the larger context of Ethereum’s ongoing developments, including upgrades and growing use cases in decentralized finance and stablecoin ecosystems. While such large transactions can introduce short-term uncertainty, they do not necessarily signal a fundamental shift in the market’s trajectory [1].

Sources:

[1] https://www.mitrade.com/insights/news/live-news/article-3-1017658-20250807

[2] https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-forecast-sharplink-plans-200-million-treasury-boost-as-eth-outperformance-continues-202508072048

[3] https://www.bitget.com/news/detail/12560604898593