Whales Offload 25,000 ETH Worth $40 Million to Binance in Three Days
Galaxy Digital has sold significant amounts of its Ethereum holdings recently. Key points include:
- On April 15, Galaxy deposited 12,500 ETH (approximately $20.36 million) to Binance.
- A total of 25,000 ETH worth over $40 million was moved to Binance in three days.
- Ethereum's price is under pressure, having decreased nearly 50% from last year.
- Whales have also liquidated substantial amounts: one sent 8,922 ETH ($14.82 million) to Kraken, while another sold 8,001 ETH for $13.06 million at $1,632 per ETH.
- Stablecoin supply on Ethereum dropped by over $1 billion in a week, contrasting with a $1.52 billion increase on the Tron blockchain.
- Total value locked (TVL) in DeFi on Ethereum has fallen by $20 billion since early 2025, currently at $46.5 billion.
Market Analysis
Despite current challenges, analysts suggest potential buying opportunities as Ethereum approaches a critical support level at $1,546.55, where over 820,000 ETH were previously accumulated.
As of now, Ethereum (ETH) trades around $1,642, with a market cap exceeding $198 billion. The RSI stands at 42 with an upward trend, indicating possible upward movement if buying volume increases.
Key price levels include:
- Support around $1,429
- Resistance near $2,000 if the price holds above $1,655
The MACD line remains below the signal line, suggesting slow upward momentum. A dip below could lead to further declines towards $1,400.