Ethereum Whale Wiped Out: Over $100 Million Lost in Sudden Price Plunge!

One of the biggest Ethereum whales lost big when 67,570 ETH worth around $106 million were liquidated on Maker. This followed an Ethereum price fall of over 10% throughout Sunday night, when ETH fell from a high of over $1,800 to a low of about $1,500,  as revealed by blockchain monitor Lookonchain. The sudden price action activated algorithmic liquidation stops, wiping out the whale’s position.

Wider Market Plunge Fueled by Tariff Concerns

This Ethereum decline was not an isolated incident. The overall cryptocurrency market also saw profound declines under new bearish sentiment. Investor sentiment was rattled by Donald Trump’s declaration of punishing tariffs, further propelling the specter of global economic chaos. Bitcoin dropped particularly hard, falling below $78,000 per CoinGecko, taking the rest of the market down with it.

Total Market Cap Suffers Sharp Decline

The crypto sell-off was widespread. The total cryptocurrency market capitalization shrank by about 8%, dropping to $2.6 trillion. Ethereum and Bitcoin led the plunge, but other major altcoins weren’t spared. XRP lost 10% to trade below $1.90, while BNB fell 5% to $562. Solana, Dogecoin, and Cardano each declined by around 11%, showcasing the market-wide impact. TRON, however, saw a relatively modest drop of just 2%.

ETH/BTC Pair Hits Multi-Year Low

The unexpected Ethereum correction had another deep effect: the ETH/BTC trading pair fell to 0.021 on April 6. That’s the lowest such reading since March 2020, which means Ethereum’s relative strength against Bitcoin is under threat under prevailing volatility.

Panic Selling Adds to Market Pressure

Contributing to the panic, Lookonchain reported that another investor panicked and sold 14,014 ETH worth approximately $22 million as the market slide continued. The sale appears to have been driven by fear of loss, with traders rushing to sell and take losses in the drastic price drop.

Some Whales See Opportunity Amid Chaos

While most of the investors are unloading assets, some others are using the decline as a time to invest. One of the whales, well known in the crypto world as “7 Siblings,” is reported to have purchased 24,817 ETH worth around $42 million. The investment made their holding portfolio worth over 1.2 million ETH, now around $1.9 billion.

This investor has been adding to their position in recent months. From February 3, they have spent almost $230 million buying 103,543 ETH. But with declining prices, they now have a paper loss of almost $64 million on these holdings.

Whales Accumulating on Tariff News

Whale activity picked up earlier this week, according to analytics firm IntoTheBlock. On Thursday alone—when Ethereum first dipped below $1,800 in reaction to the tariff news—whales purchased a total of 130,000 ETH. This indicates whales continue to have faith in the long-term worth of Ethereum even in the face of short-term price fluctuations.