Key Points
- Dormant Ethereum whales have started to sell off their ETH holdings, causing a 6% drop in Ethereum’s price.
- World Liberty Financial, a Trump-backed crypto project, reportedly sold a portion of its ETH holdings at a loss.
Inactive Ethereum whales have begun to unload their ETH holdings, leading to a 6% decrease in the price of Ethereum. A whale entity that had held 10,000 Ethereum for the past 900 days sold off its entire holdings, still making a profit of $2.75 million.
Purchase History and Current Sell-off
This whale entity initially purchased this large amount of Ethereum during the 2022 bear market. The average purchase price per token was $1,295, amounting to an investment value of $13 million, as per Arkham Intelligence data.
Despite Ethereum’s price reaching a high of $4,000 over the past six months, the entity refrained from selling, even with a potential profit of $27.6 million. The recent sell-off suggests panic profit-booking due to global macro uncertainty as Trump’s tariff wars intensify.
World Liberty Financial’s Ethereum Sale
Reports suggest that World Liberty Financial, a crypto project backed by Trump, sold part of its substantial ETH holdings in the last 12 hours. A wallet possibly related to World Liberty Financial sold 5,471 ETH for $8.01 million at $1,465 per token. Before this sale, World Liberty Financial reportedly held a total of 67,498 ETH, purchased at an average price of $3,259, according to Lookonchain.
As Ethereum’s price continues to fall, investors are questioning how much further it can drop. Some are even expecting it to fall below $1,000. Crypto analyst Ali Martinez suggests that Ethereum could find its footing at the $1,200 level next.
This recent sell-off coincides with Trump’s 104% tariffs on China, which took effect on April 8, escalating the trade war. Analysts predict a global recession if President Trump does not halt this trade war. There are calls for a potential Fed rate cut in response.
