Ethereum News Today: Ethereum Whale Transfers $135M to Coinbase as Price Hits 1.94% Gain

A significant Ethereum whale has moved $135 million worth of ETH to Coinbase Institutional, raising speculation about potential sell pressure amid the cryptocurrency’s near-record rally. According to Whale Alert, a single transaction involving 31,699 ETH—valued at approximately $132.53 million—was transferred to the exchange as Ethereum continued to rise above the $4,000 level [1]. The move has sparked concern among traders, who are interpreting it as a signal of profit-taking [1].

Ethereum’s price has surged over 17% in recent days, reaching an intraday high of $4,348.15, and currently trades at $4,295.28, a 1.94% gain in the past 24 hours [1]. With the cryptocurrency now within 15% of its all-time high of $4,891.70 in November 2021, the market is closely monitoring whale activity to gauge whether further momentum is sustainable or if a correction is looming [1].

The timing of the transaction has drawn comparisons to December 2024, when Ethereum briefly broke through $4,000 but failed to establish a new high. That rally was followed by a sharp decline below $2,000 in subsequent months [1]. Traders are now wary of a similar pattern, with some opting to lock in profits to avoid potential losses [1]. Despite these concerns, approximately 97% of Ethereum addresses are currently in profit, suggesting a broader trend of accumulation rather than panic selling [1].

Market analysts have emphasized that the next few days will be crucial in determining the direction of Ethereum’s price action. The long-term demand for ETH may support a move beyond its previous peak, but increased profit-taking could slow or reverse the current upward trajectory [1]. The whale’s transfer, while significant, may influence other large holders to follow suit, potentially affecting liquidity and price stability [1].

The market remains at a pivotal juncture, with strong bullish energy competing against the risk of heightened sell pressure. As traders and investors observe developments, the actions of major holders will play a key role in shaping Ethereum’s path forward [1].

Source: [1] title: Ethereum Whale Sends $135M to Coinbase as Price Nears Record High (https://coinmarketcap.com/community/articles/689a564014fafa6f2d11d4ba/)