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The price of Ethereum 
$4,632, the largest altcoin, has surged above $3,400, but this rise was accompanied by a significant sell-off amounting to $528 million. Over the last three days, two major whales have capitalized on this rally, selling a total of 178,080 ETH to pocket substantial profits. Despite the persistent upward trend in Ethereum’s price, these sales emit signs of short-term exhaustion.
Trend Research Capitalizes on Market Gains
Between February 26 and June 20, Trend Research acquired 184,115 ETH at an average price of $2,118. Recently, the firm sold 79,470 ETH at an average of $3,145, realizing approximately $250 million in profit. Originally spending $390 million, the company added significantly to its earnings post-sale.
Nonetheless, Trend Research maintains a position of 105,664 ETH, worth approximately $354 million. This decision showcases a strategy to reduce risk without entirely exiting their holdings. The rise of the daily RSI to 83.46 and the surge in trading volumes suggest that experts like Trend Research are approaching the overbought territory with caution.
Anonymity Doesn’t Stop a Whale’s Strategic Exit
An anonymous whale also contributed to the $528 million sell-off. This investor had accumulated 132,536 ETH between June 11 and 22, at an average price of $2,518. Now, they’ve sold 98,610 ETH over eight days at an average of $2,819, securing $278 million. The whale’s wallet still retains 35,022 ETH, worth around $117.5 million, favoring a phased market exit rather than a complete sell-off.
These transactions have not yet disrupted Ethereum’s price, which currently trades above all crucial moving averages, according to CoinMarketCap data. However, as the RSI enters the overbought zone and trading volumes grow, it’s evident that new buyers engage at high levels, with large accounts leveraging this liquidity. As long as the price maintains support between $3,200 and $3,300, the rally could continue its momentum.
