Ethereum Price Recovers to $1,594 as Whales Reactivate Holdings
Ethereum's price has rebounded 3.2% from a low of $1,400, currently trading at around $1,594. This follows a decline exceeding 50% in the first quarter of 2025. Dormant Ethereum whales are becoming active, selling off substantial holdings.
Ethereum Whale Activity
- An Ethereum whale deposited 2,000 ETH (valued at $3.11 million) to Kraken after seven years of dormancy.
- The investor initially bought 10,001 ETH for an average price of $352 each in November 2017, totaling $3.52 million.
- Despite Ethereum reaching $4,878 during the last bull run, the whale did not sell and currently holds an unrealized profit of $12.3 million.
Market Outlook
- Ethereum remains under pressure, failing to hold support levels, with current trading just above $1,500.
- Technical analysis indicates a potential wait-and-watch phase, with consolidation expected before significant moves.
- Peter Schiff predicts a further decline, suggesting Ethereum may drop below $1,000.