Early Ethereum whale sells $136M as Ether nears $2,000
An early Ethereum whale moved about 64,442 ETH (roughly $136M) as Ether approached $2,000; on-chain HODL metrics show older holder cohorts largely kept holdings.
An early Ethereum investor moved roughly 64,442 ETH, about $136 million at transfer-time prices, over the past week as Ether approached the $2,000 level, according to blockchain tracking data. On-chain holding metrics show older investor cohorts have largely retained their supply.
The wallet executed two transfers last week: about 55,000 ETH and 9,442 ETH. The combined sales averaged near $2,041 per token.
On-chain HODL wave data show shifts concentrated among shorter-term holders. The share of supply held by the three- to six-month cohort declined to about 9% from 13.5% on May 19. The one-week to one-month cohort fell to roughly 2.6% from 4.76% over the same period. Supply last active five to seven years ago rose slightly to around 9% from 8.59% on May 19 and remains below levels seen in 2022 when Ether traded under $1,000.
Market prices moved as traders watched the $2,000 threshold. At the time of reporting, Ether was trading near $1,980, down about 2% over 24 hours and about 6.5% on the week. Analysts flagged the $1,800 area as the next important support and some technical models project potential downside toward the $1,500 level.
In a social post, analyst Alex Marzell wrote, ‘This doesn’t look good for Ethereum,’ and added that momentum favored the bears as Ether neared the next support area. Another market analyst, Merlijn The Trader, mapped the price action to a Wyckoff Accumulation structure and wrote that the market could enter a phase that takes Ether to a bottom below $1,500. A separate technical read using a bear flag pattern also projected a move toward the $1,500 support.
Other market factors noted by participants include rising supply on exchanges and weaker ETF inflows. Some large holders have publicly reported partial or full sales in recent weeks, but on-chain supply breakdowns do not show a broad unloading by long-term holders.
Traders and analysts continue to monitor exchange balances, fund flows and short-term holder activity for signals on where Ether might stabilise.
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