Ethereum (ETH) Momentum

Ethereum (ETH) is currently gaining momentum after a whale’s significant activity involving the withdrawal and staking of large amounts of ETH tokens. This event, identified by Onchain Lens, has generated positive sentiment among crypto users.

> A whale withdrew 1,427 $ETH ($2.93M) from #Kraken and staked it with @LidoFinance 7 hours ago after 2 months of dormancy.
>
> Over 6.5 months, the whale has withdrawn 5,861 $ETH ($17.23M) and is currently at a $5.34M loss.
>
> Address: 0xcb442d53dfcbd6f6166222ce225a334a99acedfd
>
> Data… pic.twitter.com/bWjgMN8QxN
> — Onchain Lens (@OnchainLens) March 27, 2025

Whale Moves to Ether Staking

According to Onchain Lens, the whale recently withdrew 1,427 ETH tokens (valued at $2.93 million) from Kraken and staked them in Lido Finance after two months of inactivity. In the past six and a half months, the whale has withdrawn a total of 5,861 ETH ($17.23 million) but is currently facing a $5.34 million loss due to recent price declines.

To bolster accumulation, the whale has opted to stake some tokens in the DeFi sector, earning interest on Lido Finance based on his holdings.

Ether Price Updates

The whale’s activities have attracted attention from crypto market participants, encouraging them to let their Ethereum holdings work for them. This increased optimism aligns with whale activities, highlighting Ethereum’s potential. The crypto market is experiencing a mild recovery, with Ether registering a 0.7% price increase over the last week, coinciding with a slight rebound across the broader digital asset market.

Ether shows signs of recovery as large crypto holders engage in renewed buying activities. This uptick has contributed to the asset maintaining its value above $2,000, reflecting an 8.3% increase over the past two weeks. Currently, Ether is priced at $2,026, though it has seen a 1.9% decline in the previous day.

The asset is experiencing bullish sentiment amid accumulation from large crypto holders. Notably, its transaction volume has surged by 20.31% over the previous day, currently standing at $31.85 billion, indicating significant outflows. This decrease in selling activity implies that many investors are transferring their assets to cold wallets or DeFi projects, a move typical among whales and suggesting a confidence in Ether’s future potential. Investors appear to be seizing the opportunity to buy the asset during what they perceive to be a market dip.

However, despite the buying activities and reduced selling pressure, Ether still faces challenges. In the past five days, while it has stayed above the critical support level of $1,980, it struggles to breach the resistance level of $2,065, indicating ongoing uncertainty regarding short-term market movements.