The post Will Ethereum breach $2,700 or crash after dormant whales dump $30M? appeared on BitcoinEthereumNews.com.

Traders seemed to be over-leveraged at $2,466 on the lower side and $2,612 on the upper side Ethereum could drop by 15% if it fails to break the key $2,700-resistance level After hitting the key resistance level of $2,700, Ethereum (ETH), the world’s second-largest cryptocurrency, has been garnering significant attention from industry giants. However, over the past 24 hours, the bullish sentiment faded somewhat. Especially as whales who had been dormant for years resurfaced and began dumping their holdings. A dump worth millions worth of ETH! Blockchain-based transaction tracker Onchain Lens revealed on X (formerly Twitter) that an Ethereum whale wallet linked to an ICO unstaked 10,195 ETH worth $25.67 million and deposited it to Kraken. This wallet had been dormant for three years before unstaking and dumping the funds to Kraken. Previously, this wallet had received 50,000 ETH worth $15,550 during the ICO. Meanwhile, another crypto wallet that had been dormant for eight years deposited 1,764 ETH worth $4.4 million to the Kraken exchange, realizing a profit of over $3.93 million. The post also noted that this whale’s wallet received the ETH for $469,000 from Bitfinex eight years ago. These significant ETH deposits by crypto giants, after being dormant for years, fueled a few questions – Do these whales know something about a potential price dip, or are they simply following the price action based on historical patterns? $1.02 billion worth of long bets However, intraday traders still believe that ETH has the potential to soar in the upcoming days, as reported by the on-chain analytics tool Coinglass. In fact, data revealed that traders are currently over-leveraged at $2,466 on the lower side (support) and $2,612 on the upper side (resistance). At these levels, they built $1.02 billion worth of long positions and $192.57 million worth of short positions…

---

Filed under: News - @ May 26, 2025 5:27 pm