Ethereum Price Dip: A Chance for Whales

Some crypto traders might see Ethereum’s price decline as a bad sign for their investments and may be considering offloading their holdings.

Meanwhile, whales view the altcoin’s price dip as an opportunity to increase their holdings while the price is down, leading to large investors buying significant volumes of Ethereum in the last three days.

ETH Trading Below $2,000

Analysts report that Ethereum’s price continues to fall as the broader cryptocurrency market faces challenges. Data indicates the world’s largest altcoin struggles to gain upward momentum, currently trading below $2,000.

As of writing, Ethereum is priced at $1,988 per coin, with a market cap of nearly $240 billion. According to CoinGecko, since ETH peaked at $3,640 on January 6, it has been steadily decreasing in value. The first major dip occurred on January 14, after reaching $3,007.

On February 3, the coin slid to $2,460 and further to $2,100 on February 28. Ethereum fell below $2,000 for the first time on March 11 and has since struggled to stay above this mark.

> Whales bought over 120,000 #Ethereum $ETH in the last 72 hours! pic.twitter.com/kuZY6u9drS
> — Ali (@ali_charts) March 21, 2025

An Opportunity In The Dip?

While Ethereum’s struggle to maintain the $2,000 level might worry many crypto traders, large-scale investors see a buying opportunity in the price dip. Whales took advantage of this to acquire more ETH, increasing their holdings significantly.

Crypto analyst Ali Martinez noted that the ETH price decline attracted large investors to ramp up their buying activity. “Whales bought over 120,000 #Ethereum $ETH in the last 72 hours,” Martinez explained.

He presented a chart showing a spike in whale ETH accumulation coinciding with the price decline, indicating that Ethereum’s drop allowed whales to acquire more than 120,000 ETH tokens, valued at about $236 million, in just three days.

“That’s a significant move by the whales! Their accumulation often indicates confidence in the market. It’s fascinating to witness how these big players influence price trajectories,” commented Agent Snek on Martinez’s post.

Whale Buys Over 7,000 ETH

Additionally, data analytics platform Lookonchain tracked a whale who purchased approximately $14 million worth of ETH. “A whale bought 7,074 $ETH ($13.8M) today! The whale withdrew 4,511 $ETH ($8.81M) from #OKX 3 hours ago and deposited it into #Aave,” Lookonchain reported.

The analyst added that the whale continued depositing in Aave, a decentralized finance platform, even borrowing five million USDT from Aave to purchase an additional 2,563 ETH tokens worth $5 million.

Featured image from Pexels, chart from TradingView