Are Ethereum Whales Dumping And Crashing The Price? Here’s What We Know

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Latest Ethereum on-chain activity has given traders a clear reason to look at the sell side. A ...

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Here’s What We Know\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-01 07:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://bitcoinist.com/are-ethereum-whales-dumping/><strong>Bitcoinist</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure\n\nLatest Ethereum on-chain activity has given traders a clear reason to look at the sell side. A ...</p>\n\n<a href=\"https://bitcoinist.com/are-ethereum-whales-dumping/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ETHT","symbol_name":"ProShares Ultra Ether ETF","start_time":0,"source_url":"https://bitcoinist.com/are-ethereum-whales-dumping/","article_id":"2632911446","we_media_id":null,"thumbnails":["https://bitcoinist.com/wp-content/uploads/2026/04/Ethereum-from-iStock-36.jpg?resize=350%2C250"],"rights":{"source":"bitcoinist_highlight","url":"https://bitcoinist.com/are-ethereum-whales-dumping/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2632911446","pubTimestamp":1777590046,"columns":[],"sourceInfo":{"source_id":"bitcoinist_highlight","name":"Bitcoinst"},"weMediaInfo":null,"summary":"Latest Ethereum on-chain activity has given traders a clear reason to look at the sell side. 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Ad Disclosure\n\nLatest Ethereum on-chain activity has given traders a clear reason to look at the sell side. A series of large ETH transfers tied to wallets linked with Galaxy Digital has raised questions about whether whales are actively dumping into the market. \nData from on-chain transaction tracker Lookonchain shows that two wallets linked to Galaxy Digital recently deposited 45,000 ETH across multiple crypto exchanges over a 15-hour window.\n\n\n\n\n\n\nEthereum Whales Move $104 Million In ETH To Exchanges\nOn-chain data shows that some Ethereum whale wallets are currently on a roll of transactions. These Ethereum whale wallets involved were flagged by Lookonchain as belonging to Galaxy Digital, the digital asset firm co-founded by Mike Novogratz.\nRelated Reading: Ethereum Hitting A Bottom Or A Bearish Continuation? The Cycle Theory That Tells A Story\nThe on-chain transfers flagged by Lookonchain show a clear pattern: large amounts of ETH moved from two whale wallets associated with Galaxy Digital-linked addresses into centralized crypto exchanges. \nAs shown in the screenshots shared from Arkham data, the transfers were routed to Binance, Bybit, and OKX deposits, with individual movements including 15,000 ETH, 17,000 ETH, 10,000 ETH, 8,500 ETH, 7,500 ETH, 4,250 ETH, and 3,250 ETH across different transactions. Taken together, these transfers totaled 45,000 ETH, worth around $104 million, and all were made within the space of 15 hours.\n\n\n\n\n\n\n\n\n\n\n\n\nAre Whales Crashing ETH?\nExchange deposits are noteworthy because they often increase the chance of selling. The movement of ETH from self-custody into an exchange can be interpreted as a sign that Galaxy Digital may already be selling a notable portion of its holdings.\nRelated Reading: Analyst Says Ethereum Just Confirmed A ‘Turtle Soup’, Here’s What It Means\nThe Ethereum price has fallen by 2.8% and 2.3% in the past 24-hour and seven-day timeframes, respectively. At the time of writing, Ethereum is trading at $2,262. \n\n\n\n\n\n\n\n\n\n\n\n\nThe weakness is not limited to on-chain whale activity alone, as Spot Ethereum ETF inflows have also slowed down. SoSoValue data shows that Ethereum Spot ETFs recorded $87.7 million in net outflows on April 29, marking a third consecutive day of outflows. This was enough to flip the weekly flows to a negative $160 million.\nHowever, the latest Ethereum weakness is not taking place in a one-sided whale dump. On-chain data shows that Ethereum is witnessing an equal amount of whale purchases that might be able to offset the selloffs.\nFor example, Lookonchain noted that Tom Lee’s BitMine bought another 20,000 ETH worth about $44.8 million on April 30, bringing its total purchases to 65,000 ETH worth roughly $147 million over the past 24 hours.\nOther whale wallets are also showing signs of accumulation. Lookonchain reported that whale wallet 0xE5eB withdrew 4,361 ETH, worth about $9.98 million, from Kraken after three months of inactivity. Another newly created wallet, 0xA605, withdrew 2,000 ETH, worth about $4.58 million, from Binance.\nETH trading at $2,264 on the 1D chart | Source: ETHUSDT on Tradingview.com\nFeatured image from iStock, chart from Tradingview.com\n\n\n\nEditorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.1","shortVersion":"4.42.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2632911446","isCrawlerRequest":true}