The Ethereum whales accumulated more than 130,000 ETH on Wednesday, as the second-largest digital asset fell below its lowest level since November 2024, according to an Intotheblock report.
Ethereum whales have bought dip and have the largest $eth wallet that adds 130k or more eth to their wallet yesterday pic.twitter.com/hlbdho3z6n
– Intotheblock (@intotheblock) April 3, 2025
Ethereum is currently trading at around $1,700, down 6% in the last 24 hours per Coingecko. Assets fell 45% in the first quarter of 2025, marking one of the worst quarterly performance.
Recent price drops have been heavily linked to macro uncertainty driven by US trade tariffs. President Trump announced sweeping fees on April 2, which aimed to deal with the US trade deficit and boost domestic manufacturing.
The policy shift has sparked “risk-off” sentiment, leading to investors moving away from riskier assets and widespread sales across US stocks and crypto markets.
However, some whales have seen recent declines as an opportunity to buy. Lookonchain data shows that a whale who purchased 6,488 ETH is buying it for $1,772 today.
The Whale Just Buyed Dip – 11.5m $USDC at 6,488.5 $ ETH 1,772.https://t.co/kdsitykxyepic.twitter.com/ny16x4b3wo
– lookonchain (@lookonchain) April 3, 2025
Ethereum’s strength lasts despite market doubts
Ethereum has faced skepticism in recent months as investors question its advantage amidst the wave of competition. However, Jean Rausis, co-founder of Defi Ecosystem Smardex, argues that despite recent market skepticism, Ethereum’s position remains strong.
“While Bitcoin is considered the ultimate store of value, Ethereum is the go-to platform for the future of decentralized applications,” Rauss said in a statement shared with the Crypto Briefing.
“Even though many other blockchains are replacing them, Ethereum remains unparalleled in terms of security and adoption,” he said.
Analysts say the network’s metrics show that in January 2025, the average 200,000 new Ethereum addresses averaged twice as much as 2024. The average gas bill has dropped to $0.4 compared to its $15 peak over the past two years.
“ETH prices have been stumbling short-term, and now everyone calls it a death knell. But when it’s all said and done, it’s Ethereum that doesn’t exist, there are so many other blockchains making the big headlines today,” Rauss said.
“In my book, it makes today’s low prices a generational opportunity. It’s not a reason to complain about short-term paper losses,” he added.
