Dormant Ethereum Whale Awakens: $5M ETH Withdrawal Amid Market Dip
Ethereum Whales Buy the Dip
As the crypto market faces heavy corrections, a long-dormant Ethereum whale has resurfaced, seizing the opportunity to accumulate assets at lower prices. Blockchain data reveals that the whale executed a massive withdrawal of 2,692 ETH (~$5 million) from the OKX exchange.
Ethereum’s price has fallen sharply from $4,000 to below $2,000, mirroring broader market weakness. However, this significant whale activity suggests that major investors are buying the dip, anticipating a potential price rebound.
Whale Activity Signals Accumulation
📉 ETH Price Plunge: Ethereum has shed nearly 50% of its value within weeks, intensifying market-wide liquidations.
🔍 Dormant Whale Awakens: On-chain analytics from Spot On Chain confirm that this whale—linked to the Ethermine mining pool—had remained inactive for over three years before making this move.
💰 Large-Scale Withdrawal: The whale withdrew ETH from OKX, signaling confidence in Ethereum's long-term value. Such accumulation patterns often precede bullish reversals.
What’s Next for Ethereum?
✅ Potential Rebound: If whale accumulation continues, ETH could stabilize and recover in the coming weeks.
✅ Institutional Demand: Similar large transactions suggest big-money players are entering the market despite the short-term volatility.
✅ Key Levels to Watch: Ethereum needs to reclaim the $2,500-$3,000 range to regain upward momentum.
The return of major ETH whales at these price levels could indicate a turning point for Ethereum’s next bullish cycle.
