Whale address 0x746b deposited 5,125 ETH into Binance, securing a $9.4M profit.
Ethereum price fell 4.55% in 24 hours, with trading volume rising nearly 19%.
Technical indicators show short-term bearish momentum with declining MACD and RSI readings.
Whale address 0x746b deposited a total of 5,125 ETH into Binance, valued at approximately $22.95 million. The deposits included two major transfers of 2,625.47 ETH and 2,500 ETH, both executed directly into a Binance deposit address.
A Lookonchain post on X indicates that the whale realized a profit of nearly $9.4 million from these transactions. This address's historical activity shows repeated high-value Ethereum transfers, often involving thousands of ETH moved through Binance. Previous movements also include withdrawals and other significant transactions ranging from hundreds to several thousand ETH.
https://twitter.com/lookonchain/status/1961273554949083293
The size of the latest deposits reflects a substantial liquidity shift into the exchange. Such large-scale transfers often coincide with heightened trading activity or profit-taking strategies. The transaction records confirm the wallet’s consistent influence on Ethereum flows, underlining the continued presence of whales in major market movements.
Current Market Trend Revealed
At the time of press, CoinMarketCap data reveals that Ethereum traded at $4,321.74, recording a 4.55% decline in the past 24 hours. The market cap stood at $521.66 billion, reflecting the same percentage decrease. Trading volume reached $46.85 billion, showing an 18.95% increase during the same period.
Source: CoinMarketCap
Price movement displayed consistent downward pressure across the chart. On August 28, 2025, Ethereum was priced at $4,459.94 with a 24-hour trading volume of $38.3 billion. Following that level, the price steadily declined, experiencing multiple intraday drops below $4,350.
The asset reached lows near $4,300, confirming a broader downward trajectory throughout the trading session. Overall, the data indicated strong trading activity accompanied by significant price depreciation within one day, marking heightened volatility in Ethereum’s short-term performance.
Bearish or Bullish: What do the Current Indicators' Readings Show?
According to a TradingView technical analysis, the Ethereum chart shows a recent breakout from an upward regression trend that extended from early 2025. The MACD indicator reflects weakening bullish momentum. The MACD line has crossed downward below the signal line, recording a negative reading of -46.1. Histogram bars also display red levels, confirming reduced buying pressure after a sustained uptrend.
Source: TradingView (ETH/USD Chart)
Despite this, longer-term values remain elevated at 218.1 and 172.0, reflecting broader strength built earlier in the trend. The RSI shows a neutral-to-bearish reading. Current levels stand at 51.33, down from recent peaks near overbought conditions around 70. The downward slope of the RSI confirms reduced buying strength, indicating cooling market activity.
Overall, the indicators point to bearish pressure in the short term. The breakdown from the upward regression channel aligns with declining momentum signals from both MACD and RSI. While longer-term structure remains intact, immediate readings confirm increased selling pressure outweighing recent bullish momentum, signaling potential consolidation or further correction
