Ethereum Drops 4% as Whales Accumulate

• Lyla Velez
• June 21, 2025
• News
• 0 Comments

Ethereum’s price dropped to $2,442.32, a 4% decline within 24 hours, reflecting changing market conditions in the cryptocurrency space.

The recent slump in Ethereum’s price highlights its position at the $2,440 support level. This marks a significant market reaction following exchange outflows and increasing whale activity.

The Ethereum ecosystem has witnessed significant price movement, experiencing a 4% drop. Vitalik Buterin and Joseph Lubin hold key leadership roles, though neither has commented publicly on the recent price change. Exchange outflows have intensified, as more than 1 million ETH has moved to private wallets since late April.

Despite the price drop, the movement to private wallets indicates a strong long-term holding pattern among investors, potentially reducing sell-side pressure. Accumulation by whales suggests a strategy that could influence ETH’s future pricing.

“The movement of ETH to private wallets is a reflection of a long-term holding strategy, which may reduce short-term volatility” — Cryptocurrency Analyst.

Immediate effects include a tightening of liquidity, which historically serves as a precursor to future price volatility. The reduced exchange supply and whale activities maintain Ethereum’s critical support at $2,440–$2,500, as seen previously in the asset’s pricing history.

While the current situation has not elicited institutional commentary or regulatory alerts, market watchers are attentive to Ethereum’s next moves. On-chain data and options activity are increasingly significant, with critical levels eyed for potential volatility.

Whales’ activity and decreased liquidity could position the asset for potential upward movement, assuming external market conditions remain favorable. This accumulation trend, paralleled in historical patterns, typically leads to subsequent price recovery phases.