Summary
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Ethereum Price Plummets, Reaching 2023 Lows: ETH experienced a significant price crash, falling to levels not seen since March 2023, driven by broader market turbulence and network-specific challenges.
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“Whales” Invest $60M in ETH Amidst Dip: Despite the price drop, large Ethereum investors, known as “whales,” seized the opportunity to “buy the dip,” investing approximately $60 million in ETH within 12 hours, signaling long-term confidence.
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Market Sentiment Divided on Ethereum’s Future: While some analysts express strong pessimism about Ethereum’s prospects, citing competitive pressures and declining metrics, others, like Standard Chartered, remain bullish and predict substantial future price appreciation for ETH.
Despite a significant price downturn that pushed Ethereum (ETH) to its lowest valuation since 2023, prominent Ethereum investors, often referred to as “whales,” have been actively accumulating the cryptocurrency.
Demonstrating a belief in the long-term potential of ETH, these large holders have invested approximately $60 million as the price dipped, engaging in what is commonly known as “buying the dip.”
Whale Activity Surges as ETH Value Declines
Ethereum experienced a sharp drop, reaching price levels not seen since early 2023, presenting a buying opportunity for wealthy investors.
Capitalizing on this moment, these influential actors in the crypto market injected around $60 million into Ethereum within a mere twelve-hour period.
This substantial investment occurred even as the price of the second-largest cryptocurrency by market capitalization plummeted by over 17% in a single day.
Tracking Notable Whale Transactions
Data from the on-chain analytics platform Spot On Chain highlighted a group identified as “7 Siblings” as leading this buying trend.
This group alone invested a significant $42.66 million to acquire 25,100 ETH at an average price of $1,700 per coin.
Following the purchase, these ETH holdings were promptly deposited into the Aave lending platform, suggesting strategies to generate yield or leverage the assets through borrowing.
Further analysis revealed another wallet, “0x709,” which borrowed 8.25 million DAI stablecoins from the Spark protocol.
This capital was then utilized to purchase 5,227 ETH at an approximate price of $1,578 each.
Intriguingly, this same whale also received a substantial transfer of 6,924 ETH, valued at around $11 million, from the privacy-focused Railgun platform, sparking speculation about the investor’s subsequent actions.
Adding to this trend, a third address, “0x5f1,” deployed $8.13 million worth of DAI to acquire nearly 5,000 ETH, at an average acquisition cost of $1,631 per ETH.
Optimism in the Face of Market Downturn
This wave of buying activity by large-scale holders is viewed as an opportunistic move, underpinned by an expectation of future price recovery.
This investment surge comes as Ethereum grapples with price recovery following one of its most challenging quarters, having lost over 45% of its value in the initial quarter of 2025.
These whales’ actions may indicate a perspective that current ETH prices represent a valuable long-term entry point, especially considering that ETH is trading nearly 56% lower than its value from the previous year.
Broader Market Challenges and Divergent Sentiments Surrounding Ethereum
As of the time of this report, Ethereum had experienced a 17.1% decrease in value over the preceding 24 hours, bringing its price down to levels last observed in March 2023.
Over the past week, ETH has declined by 16.6%, performing worse than the overall cryptocurrency market, which saw a slightly smaller decrease of just over 9% in the same period.
Furthermore, the ETH/BTC trading pair has reached its lowest ratio since February 2020, standing at 0.01959.
The Ethereum network is also facing a confluence of challenges, including decreasing revenues from transaction fees, intensifying competition from alternative platforms like Solana, particularly in the domain of meme coins, and a comparatively weak level of institutional investor interest relative to Bitcoin.
This challenging environment has led some industry commentators to adopt a bearish stance on Ethereum’s future.
For example, Quinn Thompson of Lekker Capital recently characterized Ethereum as “completely dead” from an investment perspective.
Contrasting this negative view, financial institution Standard Chartered maintains a bullish outlook, forecasting that Ethereum could reach a price of $10,000 by 2029, despite its current difficulties.
Also Read: Ethereum Leads the Downward Spiral
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