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Ethereum's leverage rises, giant whale transfers $253 million to exchange

2026-09-03 00:17:39
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Ethereum (ETH) Trading News

Ethereum (ETH) trading price was approximately US$2,420, a daily decline of 2.5%. It had previously failed to break through the key level of US$2,567. At the same time, a long-dormant whale re-entered the market and opened a leveraged long position worth $44.85 million.

Key Points

A trader returned to the market after seven months of inactivity and opened 18,587 long positions in ETH (approximately US$44.85 million) with 25 times leverage.

The long liquidation amount reached US$63.6 million, and another whale deposited 103,252 ETH pieces worth approximately US$253 million on multiple exchanges during this period.

ETH remains below the US$2,500 resistance level, with RSI and MACD indicators showing weakening short-term momentum near key price barriers.

Ethereum Whale Bet

Data shows that trader 0x89da opened 18,587 25-times leveraged long positions in ETH, worth approximately US$44.85 million, after nearly seven months of no trading activity. Leveraging not only amplifies potential benefits, but also increases liquidation risks.

This move occurred after Ethereum was blocked near US$2,567. The trading price of ETH was about US$2,420 and basically remained in the range of US$2,300 to US$2,400. Leveraging bulls suffered large losses.

Bullish positions have not completely disappeared. Data shows that the long clearing amount is approximately US$63.6 million, and the short clearing amount is approximately US$12.6 million; while the long and short ratio of the exchange remains above 1, of which it is approximately 2.7 for a certain platform.

Ethereum Market Signals

The flow of funds in the spot market showed the opposite trend. Data showed that another whale deposited 103,252 ETH (approximately US$253 million) on multiple exchanges and still held 64,603 ETH (approximately US$155 million), which increased the possibility of potential selling pressure, but the actual sale has not yet been confirmed.

Technical indicators also weakened after failing to break through the upside. The Relative Strength Index (RSI) fell back to about 63, but remained above the neutral zone, while the MACD formed a dead fork, indicating that short-term momentum was weakening.

This puts Ethereum in a tug of war between leverage demand and potential spot supply. If it continues to weaken, the US$2,200 area may become the focus of attention again; if derivative demand rebounds again, ETH will still need to be pushed above US$2,500 to challenge the resistance level that has limited recent gains.

Ethereum's gains slowed down after hitting US$2,567, and then entered the US$2,300 to US$2,400 range as upward momentum subsided. Therefore, this whale activity occurred during the current consolidation period rather than after a confirmed breakthrough of resistance levels.

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