Ethereum (ETH) prices have recently surged, briefly breaking the $4,300 mark, just a step away from the historical high of 2021. However, amidst this fervent rally, a significant piece of news struck like thunder from a clear sky: an Ethereum whale suddenly transferred $135 million worth of ETH to Coinbase Institutional. This move immediately sparked market speculation: is this a signal of profit-taking, or is the "liquidation wave" warned by Vitalik Buterin about to arrive? With 97% of addresses still in profit and on-chain indicators remaining bullish, the next steps for Ethereum are on the minds of global investors.
- Whale Attack: $135 Million ETH Floods into Exchanges, Raising Concerns of Sell-off
Massive Transfer: According to Whale Alert and Onchain Lens, a transaction involving 31,699 ETH (worth approximately $132.53 million) was transferred to Coinbase Institutional. Previously, an original investor from the Ethereum ICO also sent 2,000 ETH (about $8.55 million) to Kraken.
Signal of Profit-Taking?: Such a massive transfer of ETH to exchanges is typically interpreted by the market as a signal that holders are preparing to sell, raising concerns among traders about potential sell-off pressure on Ethereum as it approaches its historical peak.
Historical Similarity: The timing of this transaction recalls December 2024, when Ethereum briefly broke the $4,000 mark but failed to set a new high, leading to a sharp price decline. Traders are now wary of similar patterns, with some choosing to lock in profits to avoid potential losses.
- Vitalik's Warning of a "Liquidation Wave": The Potential Risks of Over-Leverage
Ethereum co-founder Vitalik Buterin has previously expressed concerns about the growing trend of companies holding large reserves of ETH, warning that if these corporate bondholders use their assets as collateral for excessive borrowing, a market correction could trigger a wave of forced liquidations.
Leverage Risks: Vitalik pointed out that in the event of a sharp economic downturn, a 30% drop could quickly snowball, leading to further losses and undermining confidence in the network.
Policy and Institutional Push: Despite Vitalik's urging for the market to avoid excessive leverage, recent weeks have seen U.S. policy initiatives and institutional inflows elevate Ethereum's status. The passage of the GENIUS Act (aimed at establishing a federal framework for stablecoins) has solidified Ethereum's position in digital finance. Meanwhile, record inflows into ETH ETFs highlight a surge in demand from large investors.
- On-Chain Data and Market Sentiment: Bullish Momentum and Potential Corrections
Despite concerns raised by the whale transfer, Ethereum's on-chain indicators and market sentiment still exhibit a bullish trend.
Profitable Addresses: Currently, about 97% of Ethereum addresses are in profit, indicating a general trend of accumulation in the market rather than panic selling.
Exchange Reserves at Record Lows: ETH reserves on exchanges have fallen to unprecedented lows, suggesting that more tokens are being moved to long-term storage or staking, thereby reducing available liquidity for traders. This supply tightening, combined with strong demand, lays the groundwork for potential price acceleration.
Whales Continue Accumulating: Top analyst Ted Pillows revealed that a mysterious institution has once again significantly increased its ETH holdings, purchasing $212 million worth of ETH, further solidifying ETH's momentum. In just the past week, whales have accumulated $946.6 million worth of Ethereum.
Institutional and Corporate Adoption: Public companies like SharpLink Gaming have announced significant ETH acquisitions as part of their financial strategy, indicating their confidence in Ethereum's long-term value proposition. These strategic moves not only reduce Ethereum's supply but also reinforce its position as a store of value and a strategic asset for enterprises.
Technical Analysis: Ethereum (ETH) has continued its bullish momentum, reaching a high of $4,350 this week, with the current trading price at $4,211. Previously, ETH had broken through the resistance level of $3,860. From a weekly chart perspective, ETH is currently slightly below the historical peak region, indicating strong market confidence. If the bulls maintain control, the next target price will be above $4,400, with upward potential towards $5,000. On the downside, holding the support level of $3,860 is crucial for maintaining the bullish structure and avoiding a deeper retracement.
Conclusion:
The sudden transfer by Ethereum whales has brought short-term uncertainty to the market, raising concerns about profit-taking and potential corrections. However, with 97% of addresses still in profit and on-chain indicators remaining bullish, Ethereum's long-term value and growth potential remain strong. Vitalik's concerns about excessive leverage remind investors to be cautious of risks, but the continued adoption by institutions and corporations, along with the trend of supply tightening, suggests that Ethereum is poised to play a more central role in the future of the cryptocurrency market.
Related Reading: Will Bitcoin Prices Fill the CME $117,000 Gap? This Week's Top Five BTC Highlights
Original Article: “Ethereum Whale Transfers $135 Million ETH: Is Vitalik's Warning of an Imminent Liquidation Wave Coming?”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
