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ETH The market shows strong resilience after selling US$408 million in positions
Although the Ethereum (ETH) price rebounded above US$2,500, a major Ethereum giant whale cleared its 167,855 ETH positions in just five days, with a total value of approximately US$408 million. This incident highlighted the market's ability to absorb concentrated selling pressure, and also reflected the strong macro demand.
Key Points
- After gradually transferring funds to the exchange, the giant whale sold 167,855 ETH units worth US$408 million.
- Despite the sell-off, ETH prices rebounded from below $2,400 to hit $2,530 intraday, and then stabilized above $2,500.
- The operation comes after Ethereum posted its strongest monthly gain since July 2025.
Analysis of the Giant Whale Exit Mechanism
The blockchain tracking platform Lookonchain continues to pay attention to the movements of the unnamed holder and finds that he assembled the position through multiple addresses. The entity initially received 167,855 ETH worth approximately US$408 million and began sending the tokens to trading platforms in early September.
In the first two days, the giant whale deposited 70,739 ETH worth approximately US$174 million on multiple exchanges, with approximately US$237 million remaining in its wallet. As the sell-off continued, Lookonchain subsequently noted that total exchange deposits had reached approximately $253 million. In the end, the holder completed the liquidation of all 167,855 ETH units on September 4.
The entire exit process took only five days. This incident was remarkable not only because of its huge scale, but also because the market was able to effectively absorb this concentrated supply shock without pushing ETH prices back to recent lows.
Market rebound against the trend and macro background
In the final stage of the sell-off, the ETH trend ran counter to the giant whale's operation. After falling below $2,400, ETH rebounded more than 4% in a single day, reaching an intraday high of $2,530. The trading price then remained above $2,500, with a market value close to $305 billion.
CoinMarketCap data shows that Ethereum's market share has exceeded 11%. Rising market share means that even if large holders withdraw, ETH's share of the overall cryptocurrency market value continues to expand.
Two days before the giant whale completed its sale, on-line analyst Ted Pills warned that leveraged long positions near the current price were accumulating, and if the price was repeatedly blocked near $2,550, traders could face the risk of being rejected again.
At the same time, the spot Ethereum ETF absorbed US$1.85 billion in funds in August, and large wallets such as BitMine are also actively accumulating ETH. This broader demand explains why the liquidation of a single giant whale has not dominated the direction of the market. After a nearly 70% decline between October and June, Ethereum surged 32.5% in August, setting its best monthly performance since July 2025. As a result, this $408 million exit actually occurred in the midst of a larger recovery trend.
