Whale Moves 96,955 ETH, Signaling Potential Bearish Turn for Ethereum Price

Ethereum (ETH) has once again made the headlines and become the center of discussion due to the large-scale ETH transfer that hints at a bearish shift. There are several latest Ethereum update, from which a notable one took place when two prominent Ethereum wallets associated with major entities did significant ETH transfers, creating fear of a possible market sell-off. A wallet linked to the Ethereum Foundation transferred 1,000 ETH (around $1.58 million) to Kraken, which raised concerns of potential profit-taking. 

Roughly three hours earlier, Paradigm, a well-known investment firm, sent 5,500 ETH that cost around $8.66 million to Anchorage, which is a custody platform used by institutions. While the April 22 transfer was notable, it was part of Paradigm’s broader activity over the past year, during which it moved 96,955 ETH worth over $302 million into Anchorage. This activity has sparked speculation and suggests that some of the largest players in the Ethereum ecosystem may be preparing for a potential liquidation phase. 

Ethereum Tops $1,800 Briefly Amid Volatility

ETH/USD chart, published on Tradingview, April 23, 2025

The recent Ethereum update has shown that the Ethereum price is above the $1,800 market and is currently trading at over $1,802, reflecting a 14.05% increase earlier on April 23, 2025. According to TradingView statistics, the price of Ethereum is currently at $1,794 at 6:03:22 UTC, representing a relatively moderate 24-hour increase of +37.50, or 2.13%. This increase in the Ethereum price indicates a positive or upward trend that coincides with the continuous volatility and increased market speculation brought on by the extensive whale activity. The key technical indicators suggest ETH is at a crucial turning point. Though the price level offers temporary relief, investors need to stay cautious and are advised that there is a looming threat of high-volume sell-offs. As the market continues to evolve, both the retail and institutional players should keep a close eye on the whale movement and technical indicator analysis for informed decisions. 

Potential Chain Reaction Ahead

These latest Ethereum updates are important as market analysts and traders are closely monitoring the exchange inflows, as these are often early indicators of broader sell-offs. In the past, similar large ETH transfers to custody platforms have preceded sales on major exchanges such as Coinbase and Binance. If this trend persists, then the Ethereum price could face renewed downward pressure. The strategic timing and scale of these transfers indicate a high level of coordination that is typically seen among the whales or institutional players managing risk ahead of market corrections. If the confidence in ETH’s short-term growth weakens, this could prompt additional larger holders to follow suit, triggering a chain reaction. Though the bearish trend is not yet confirmed, the underlying signals suggest a growing caution before making any Ethereum investment. Low volume, lack of momentum, and proximity to resistance levels all hint at a possible reversal or, at the very least, a pause in upward momentum. 

Ethereum Community Expands on Farcaster

Ethereum investment and whale activities have taken place; the Ethereum community continues to explore platforms for outreach. As of April 2025, Ethereum has officially joined Farcaster, a decentralized social protocol, in a move to strengthen its presence on alternative social networks. Earlier this year, the Ethereum Foundation appointed a social media manager to enhance its presence across platforms like Farcaster. This strategic decision underscores the project’s broader vision of decentralization beyond just financial systems, extending into the realm of digital identity and community engagement.