Ethereum Whales Engage in Second Round of Profit-Taking
New data from CryptoQuant indicates that Ethereum (ETH) whales are engaging in a second significant round of profit-taking, a development that suggests the cryptocurrency's price may not be poised for substantial higher movements in the immediate future.
According to the analysis, “ETH whales have now completed 2 profit-taking” events. These “whales” are identified as large accounts holding over 100,000 ETH.
The data clearly shows these substantial holders are actively distributing their Ethereum holdings, which typically signifies a reduction in their exposure and a realization of gains made during recent price movements.
The act of large investors, or “whales,” selling off portions of their holdings often implies a sentiment that current price levels are attractive for locking in profits, and that the likelihood of further significant upward momentum might be limited in the short term.
When such substantial amounts of a cryptocurrency are distributed, it can increase selling pressure on the market.
While the report does not explicitly predict a price drop, the strong emphasis on profit-taking by these dominant market players suggests caution for those expecting a rapid ascent for Ethereum. Investors will likely be watching closely to see if this distribution pattern continues and how it impacts ETH’s price trajectory in the coming days and weeks.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
