Image Credentials: Image Title: $528 Million in Ethereum Sold: Major Whales Exit as ETH Rally Enters Critical Phase Source: (sora.chatgpt) Date: June 2025 Attribution: Created by AI-generated imagery (sora.chatgpt), it does not depict a real-world scene.
By Staff Writer | Open Chronicle with Agencies
July 17, 2025 — Markets & Finance Desk
Ethereum (ETH), the world’s second-largest cryptocurrency, is experiencing an explosive rally, but behind the bullish momentum, a storm may be brewing. Over $528 million worth of ETH has been sold in recent days, raising concerns over potential market exhaustion and prompting speculation about who’s behind the mass exit.
Whales Quietly Unload Amid Soaring Prices
Despite Ethereum’s impressive surge past $3,470, on-chain data reveals that two large ETH whales, including a major crypto investment firm, have quietly sold a combined 178,080 ETH, signaling a strategic retreat even as retail investors and late buyers push into the market.
Whale #1: Trend Research Locks in Gains
The first major seller, identified as Trend Research, accumulated 184,115 ETH between February 26 and June 20 at an average cost of $2,118, totaling around $390 million in investment.
In the past 48 hours, the firm has sold 79,470 ETH at an average price of $3,145, pocketing approximately $250 million, a handsome profit. While the organization still holds 105,664 ETH (valued at around $354 million), the sizable reduction in exposure indicates cautious repositioning amid rapid market movement.
Whale #2: Tactical Exit After $30 Million Profit
Another unnamed investor, often tracked by analytics firms for their precise timing, purchased 132,536 ETH between June 11 and June 22 for an average price of $2,518. Over the past eight days, they have offloaded 98,610 ETH for $278 million, averaging $2,819 per ETH. With 35,022 ETH (~$117.5 million) still held, the wallet exhibits partial exit behavior.
Combined, these two whales have injected over half a billion dollars in ETH back into the market.
Technical Strength vs. Overbought Warnings
Despite the sell-offs, Ethereum’s technical indicators remain robust. The asset is still trading well above key exponential moving averages (EMAs), including the critical 200-day line, and has decisively broken through long-standing resistance levels.
However, the Relative Strength Index (RSI) on the daily chart is now at 83.46, firmly in overbought territory, and a sharp volume spike in a recent daily candle points to distribution, a sign that earlier investors may be selling into strength while demand from new entrants remains high.
What This Means for Ethereum’s Near-Term Future
The moves by these “smart money” whales, exiting as ETH prices climb, suggest that while they believe in the asset’s long-term strength, they also see short-term risk and are hedging accordingly.
Analysts caution that profit-taking at these levels, combined with potential fatigue among retail investors, could lead to a cooling-off period or short-term pullback, particularly if ETH drops below the key support range of $3,200 to $3,300.
Still, the underlying structure of the rally remains intact. Barring any macroeconomic shocks or cascading liquidations, Ethereum’s upward trajectory may not be over, but its resilience is about to be tested.
In Summary
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$528M+ in ETH has been sold by two large whales in the past week.
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Despite sales, ETH continues trading above $3,470.
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Technicals are strong, but RSI at 83.46 signals potential overbought conditions.
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Whales are securing profits, while retail interest remains high.
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Key support to watch: $3,200–$3,300.
Ethereum’s next few sessions will likely reveal whether this rally is fueled by genuine momentum or if the whales’ retreat is a signal of things to come.
Staff Writers at Open Chronicle produce in-depth, field-informed reporting on defense, diplomacy, cultural transformation, and global affairs. Known for clarity, accuracy, and analytical depth, they connect breaking developments to broader historical and strategic contexts. In addition to frontline journalism, Staff Writers also contribute to the Open Chronicle Encyclopedia, crafting authoritative entries that preserve critical knowledge and enrich public understanding.