Ethereum Leverage Rises While Major Whale Sends $253M To Exchanges

Ethereum (ETH) traded near $2,420, down 2.5% daily, after failing to clear $2,567, while a returning whale opened a $44.85 million leveraged long.

Key Points:

A trader returned after seven months of inactivity to open a 25x long on 18,587 ETH, worth about $44.85 million.

Long liquidations reached $63.6 million, while another whale deposited 103,252 ETH worth $253 million into multiple exchanges over the period.

ETH remains below $2,500 resistance as RSI and MACD signals point to weaker short-term momentum near a key price barrier.

Ethereum Whale Bet

Lookonchain reported that trader 0x89da opened a 25x leveraged long covering 18,587 ETH, a position valued at about $44.85 million, after roughly seven months without trading activity. The leverage amplifies both gains and liquidation risk.

The move came as Ethereum struggled after its rejection near $2,567, with ETH trading around $2,420 and remaining largely confined between $2,300 and $2,400 as leveraged longs absorbed heavy losses.

Bullish positioning has not disappeared. CoinGlass data showed about $63.6 million in long liquidations against $12.6 million in shorts, while long-to-short ratios on Binance and OKX stayed above 1, with Binance at about 2.7.

Also Read: Ethereum Faces A $408M Whale Move, And Nobody Knows Who Is Behind It

ETH Market Signals

Spot-market flows pointed the other way. Lookonchain said another whale deposited 103,252 ETH, worth about $253 million, into several exchanges and still held 64,603 ETH valued near $155 million, raising the possibility of more selling pressure without proving a sale.

Momentum indicators on TradingView also weakened after the failed push higher. The Relative Strength Index fell to around 63 but remained above neutral territory, while the MACD formed a bearish crossover that pointed to softer short-term momentum.

That leaves Ethereum caught between leveraged demand and potential spot supply. A sustained bearish move could bring the $2,200 area back into focus, while renewed derivatives demand would still need to push ETH above $2,500 to challenge the resistance capping the latest advance.

Ethereum had already slowed after reaching $2,567, then settled into the $2,300 to $2,400 range as upside momentum faded. The latest whale activity therefore arrives during an existing consolidation period, rather than after a confirmed breakout from resistance.

Mehjabeen Arsiwala

Mehjabeen Arsiwala is a journalist covering crypto news, DeFi, exchanges, trading, and market analysis. Over the past three years, she has focused on the trends and narratives shaping digital asset markets, from price action and forecasts to exchange developments and on-chain signals. She specializes in clear reporting that helps readers understand what is happening in the market and why it matters.