Recent on-chain data reveals significant movements by Ethereum whales, indicating a cautious market sentiment. On April 22, a prominent whale sold 15,000 ETH for approximately $24.9 million USDT at an average price of $1,660, shortly after a price surge . Similarly, on April 14, another whale deposited 20,000 ETH worth $32.4 million into Kraken, suggesting potential preparation for further sales .
These substantial transactions align with a broader trend of whale activity, where large holders have offloaded approximately 500,000 ETH within a 48-hour window, highlighting a lack of confidence among influential market participants . Despite these sell-offs, some whales continue to accumulate ETH, indicating a complex market dynamic.
Ethereum price currently hovers around $1,803.20, with recent whale movements contributing to market volatility. Investors are advised to monitor these activities closely, as they often precede significant market shifts.
