Ethereum whale sold $408 million, ETH price rebounded to above $2,500

Ethereum prices rebounded significantly, as large holders adjusted their positions to drive the market up

Ethereum (ETH) achieved significant price recovery despite massive whale liquidations. Amid adjustment of positions by large holders and continued expansion of exposure by institutional investors, ETH was trading close to US$2,513, up approximately 4.3% in the past 24 hours. Its market value remained above US$306 billion, and its market dominance climbed to more than 11%.

Whales sold 167,855 ETH units and cashed in US$408 million to leave the market.

Blockchain analysis company Lookonchain reported that a well-known Ethereum whale sold all 167,855 ETH units in five days, completely withdrawing from its position in the ecosystem. The liquidation totals approximately $408 million, making it one of the largest single-entity exits in recent months.

This series of transactions began after the wallet received a large number of ETH transfers in early September. Subsequently, the whale distributed hundreds of millions of dollars worth of ETH into multiple centralized exchanges and finally completed the full sale. Despite facing such a large-scale liquidation, ETH quickly rebounded from its previous low of close to $2,400 and quickly returned above $2,500 as overall crypto market sentiment improved. Market analysts pointed out that the impact of the whale's departure has been absorbed by other market participants as broader cryptocurrency prices stabilize and subsequently strengthen. Some traders believe that increased institutional interest may help limit downward pressure.

Invesco ETF Customer-Leading Institutions Cumulative

According to blockchain data provider Arkham, customers of the Invesco Ethereum ETF have not recorded any net ETH sales since March 19, 2026, marking a continuous holding period of nearly six months. During this period, these customers added approximately $167 million in ETH to the portfolio.

This cumulative trend highlights the divergence of strategies among large players: even as some individual holders exit the market, institutional investors are still maintaining or expanding their exposure. Invesco's customers have reportedly kept ETH in escrow accounts during this period, highlighting the continued confidence of investors in the asset despite volatile markets and significant whale activity. As one of the world's leading investment management companies, Invesco is a major issuer of exchange-traded products, and its ETF products have attracted the attention of a large number of retail and institutional investors.

Suspected Notional Finance vulnerability under investigation

Blockchain security company PeckShieldAlert cited Specter's research results to flag a suspected vulnerability that affected custody or custody contracts related to Notional Finance. According to reports, the incident resulted in the unauthorized transfer of approximately $1.7 million in stablecoins DAI and USDC.

After the breach, the attacker is believed to have converted the funds into 689.2 ETH and diverted the funds through Tornado Cash, a privacy protocol often used to obscure transaction history on the Ethereum network. Ethereum-based decentralized lending platform Notional Finance has not confirmed all details about the incident. Currently, security researchers and blockchain monitoring teams are still scrutting the situation.

Noun explanation: Notional Finance is a protocol that allows fixed-rate cryptocurrency lending on Ethereum. It uses smart contracts to promote the on-chain debt market without the need for intermediaries to participate.

Abraxas Capital presents mixed capital flows and derivatives trading

Lookonchain further reported that Abraxas Capital acquired 16,554 ETH units in approximately 12 hours, worth approximately US$39.8 million. The multi-strategy company maintained a complex position structure because some wallets associated with Abraxas Capital reportedly held 120,178 short ETH positions worth $291.4 million on the decentralized derivatives exchange Hyperliquid.

This structure suggests a hedging trading approach that makes large purchases in the spot market while maintaining a large short exposure in the derivatives market.

Noun explanation: Hyperliquid is a decentralized derivatives protocol that allows users to leverage perpetual contracts and futures while maintaining transparency and settlement mechanisms along the chain.

As different market participants implement different strategies, Ethereum prices remain resilient above $2,500, and institutional and retail capital flows together affect short-term fluctuations.

Holder/Institution Changes in ETH Value (approximation) Position positioning Ethereum Whale Sold 167,855 ETH US$408 million Quit completely Invesco ETF Client Cumulative ETH from March 19, 2026 US$167 million Net accumulation Abraxas Capital Buy 16,554 ETH; hold major short positions Spot US$39.8 million; Short US$291.4 million Hedging Notional Finance (Bug) Loss of 689.2 ETH (converted from DAI/USDC) US$1.7 million Safety Incident