Ethereum (ETH) is gaining momentum after whales have become interested in retracting and staining large quantities of ETK. The activity identified by the Onchain lens caused positive feelings among crypto users.
The whale retracted the $1,427 ETH (2.93mm) from #Kraken and bet it on @Lidofinance seven hours ago after two months of dormant.
For more than 6.5 months, the whales have withdrawn their $5,861 ETH ($1723 million) and are currently at a loss of $5.34 million.
Address: 0xcb442d53dfcbd6f616622225a334a99acedfd
Data…pic.twitter.com/bwjgmn8qxn
– March 27, 2025, On-ChainLens (@onchainlens)
Whales move to ether staking
Today, according to data reported by Onchain Lens, the whales retracted 1,427 ETKEN (valued by $2.93 million) from Kraken and bet them on Lido Finance after two months of dormant. Over the past six and a half months, the whales have withdrawn 5,861 ETK tokens ($17.23 million) and are currently suffering a loss of $5.34 million due to recent price drops.
The whale decided to boost its accumulation by sending several tokens to the defi sector for staking. By depositing them on the Lido Staking platform, investors earn interest based on his holdings.
Ether Price Update
The investor’s activities attracted participants in the crypto market, and Ethereum holdings have made them do their job. This optimism coincides with the activity of whales and draws attention to the potential of Ethereum. The Crypto market has recently witnessed a mild recovery as Ether has recorded a price rise of 0.7% over the past seven days. This increase coincides with small rebounds in the broader digital asset market.
Ether shows signs of recovery as large crypto holders have renewed their purchase activity. Recent buyers’ activities have helped to recover their assets, with the tokens currently remaining worth over $2,000. Its prices have risen 8.3% over the past two weeks and are currently down 1.9% at $2,026.
The assets are now witnessing bullish sentiment in the accumulation behavior of large crypto holders. That trading volume is up 20.31% from yesterday, currently at $31.855 billion. This suggests a significant outflow and a decline in sales activity as several investors are transferring assets to cold wallets or debt projects. Such outflows are indicators of accumulation as investors, particularly whales, retain their ether in hoping for a surge in future prices. This suggests increased confidence in the potential of etherics as investors look to buy assets by considering a decline in the market.
Despite lower purchasing activities and sales pressures, ether faces challenges. Over the last five days, exceeding the key support level of $1,980 has maintained its value, but it has struggled to exceed the resistance level of $2,065. This indicates that the market is still uncertain about short-term movements.
