Ethereum price slipped nearly 3% today, as the latest ETH whales and institutions’ movements are weighing on the market sentiment. As per the latest updates, the whales or large holders appear to be offloading their holdings, which might have triggered panic among traders.
In addition, the latest on-chain data also hints at a cooling demand for the second-largest crypto by market cap. Considering that, the market experts have cast doubts on the potential rally of ETH price towards the much-anticipated $3,000 target.
Ethereum Whales Dump ETH amid Market Uncertainty
According to the latest updates from the leading on-chain transaction tracking platform, Lookonchain, the ETH whales and institutions are dumping their holdings. For context, Lookonchain said that “Whales/Institutions are dumping ETH.”
In addition, it showed that the digital asset manager Metalpha-related wallet addresses deposited 27,000 Ethereum, worth $62.78 million, to Binance. Simultaneously, another whale, identified by the wallet address “0x8Ad4”, deposited 14,062 ETH, worth $32.82 million, into the same exchange today.
These hefty transfers into the exchange have fueled speculations over a potential selloff. Besides, it comes just after the renowned whale Garrett Jin deposited $396 million in ETH to Binance, which has further dampened the investors’ sentiment.
ETH Whale Demand Cools
Amid the ongoing selloff concerns by the large investors, analyst Ali Martinez has further highlighted a major shift in the Ethereum whale behavior. He noted that the ETH whales holding between 1,000 and 10,000 coins have reduced their exposure significantly since October 2025.
Martinez said that this comes after a continued accumulation phase from 12.95 million ETH in April 2025 to a peak of 15.95 million coins by October 6, 2025. Since then, the holdings have declined sharply to around 12.52 million ETH, indicating a 21.5% drop in total positions.
This reversing trend has dampened the broader market sentiment. The analyst also said that Ethereum price may require a “fresh wave of institutional or retail demand” now to hit the $3,000 target ahead.
What’s Next for Ethereum Price?
ETH price has recorded a drop of 3% today amid a broader crypto market retreat, and traded at $2,293 at the time of writing. Commenting on the recent decline, analyst Ted Pillows has highlighted the struggle of Ethereum price holding the $2,400 support.
Meanwhile, the expert also said that the drop was due to the weak spot demand, which has continued to hinder a much-awaited rally in ETH price. Besides, Ted Pillows said that until this scenario changes, the crypto will continue to witness downward pressure ahead.
Having said that, the investors are closely evaluating the recent movements of the crypto, as well as the whale activity. However, despite that, many market watchers are still optimistic, especially given the heavy buying pressure from Bitmine, which has so far helped gains in the asset.
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