Ethereum Whales Accumulate 130,000 ETH Amid 45% Q1 Decline

Ethereum whales have accumulated more than 130,000 ETH on Wednesday as the second-largest digital asset fell below $1,800, its lowest level since November 2024. This significant accumulation by large holders, known as whales, comes at a time when Ethereum's price has been under pressure, currently trading at around $1,700, down 6% in the last 24 hours. The asset concluded Q1 2025 with a 45% decline, marking one of its worst quarterly performances.

The recent price drops are heavily tied to macro uncertainty fueled by US trade tariffs. President Trump announced sweeping tariffs on April 2, aimed at addressing US trade deficits and boosting domestic manufacturing. The policy shift has triggered a “risk-off” sentiment, causing investors to move away from riskier assets, leading to broad sell-offs across US stock and crypto markets.

Despite the market downturn, some whales have seen the recent drop as a buying opportunity. Data from Lookonchain shows a whale purchased 6,488 ETH at $1,772 today. This indicates that while the overall market sentiment is bearish, some large investors are confident in Ethereum's long-term prospects and are taking advantage of the lower prices to increase their holdings.

Ethereum’s strength persists despite market doubts. Ethereum has faced skepticism in recent months as investors have questioned its dominance amid a wave of competition. However, Jean Rausis, co-founder of DeFi ecosystem Smardex, maintains that Ethereum’s position remains strong despite recent market skepticism. This sentiment is echoed by the actions of the whales, who continue to accumulate ETH despite the price drop.