Ethereum Whales Accumulate Amid Price Dip
Ethereum Whales Buy the Dip
On Wednesday, April 3, 2025, Ethereum whales significantly increased their holdings, accumulating over 130,000 ETH as the price dipped below $1,800—its lowest point since November 2024. This activity was reported by IntoTheBlock and Lookonchain. One notable transaction saw a whale purchase 6,488 ETH at $1,772.
Market Context: Macro Uncertainty
The price drop is largely attributed to macroeconomic uncertainty stemming from new US trade tariffs announced on April 2nd. This "risk-off" sentiment prompted investors to divest from riskier assets, impacting both the stock and cryptocurrency markets.
Ethereum's Underlying Strength
Despite the price volatility and market skepticism regarding Ethereum's dominance amidst growing competition, positive network metrics suggest underlying strength. According to analyst Jean Rausis, co-founder of Smardex, daily new Ethereum addresses averaged 200,000 in January 2025, double the 2024 average. Average gas fees have also fallen to $0.4, down significantly from peaks of $15 in previous years.
Rausis highlights Ethereum's continued strength, emphasizing its role as a leading platform for decentralized applications (dApps). He argues that the current price dip presents a unique buying opportunity for long-term investors.
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