Large Ethereum (ETH) holders sold roughly 226,435 coins in a single day, worth about $430 million, as the token stalled below $2,000.
Key Points:
- Whale wallets shed about 226,435 ETH in 24 hours, one of the sharpest single-day moves in weeks.
- The same cohort still holds close to 22% of circulating supply, leaving further sales possible.
- Exchange balances sit near decade lows, a counterweight bulls cite against the selling.
Ethereum Whale Selling Hits 226,435 ETH
Analyst Ali Martinez flagged the transfers on Wednesday, describing them as one of the sharpest bursts of whale activity in recent weeks. Wallets in that cohort still control about 26.64 million coins between them.
That stash equals close to 22% of the circulating supply, which makes the group's next move consequential.
Martinez said he is watching the $1,773 mark, and he warned that a break beneath that floor would put the current bullish case on hold. Sales of this size often unsettle smaller holders, who tend to follow large wallets out of the market rather than absorb the supply themselves.
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ETH Supply Tightens Before The Fed Decision
ETH opened at $1,919.73 on Wednesday, up 1.5% from Tuesday, then eased to about $1,905 by mid-morning in New York. Bitcoin (BTC) barely moved.
Traders across digital assets trimmed exposure before the Federal Reserve rate decision, with rate futures pricing close to a one in three chance of an increase after a sharp repricing this month.
Sean Farrell, head of digital assets at Fundstrat, said the central bank language on inflation and financial conditions matters more for crypto markets than the policy decision itself. He expects officials to hold rates steady while striking a hawkish tone, though he does not dismiss the chance of a hike that would tighten conditions across risk assets.
The supply picture cuts the other way. Balances held on centralized exchanges have slipped to roughly 15.1 million ETH, down from more than 21 million a year earlier, and coins parked in staking contracts cannot reach an order book quickly. United States spot Ethereum funds also drew their strongest weekly inflow since April during the middle of this month.
Ethereum Price Targets Diverge Sharply
Martinez argued on Jul. 24 that ETH must defend $1,850 to clear $2,000, naming $2,060 as his upside target if the rising channel on the hourly chart survives.
Other chartists read the same tape as a trap, and the pseudonymous trader Crypto Lens expects a push toward $2,000 before a slide into the $1,400 to $900 band.
The wider record explains the caution. Ethereum has closed three straight quarters in the red, a first in a dataset reaching back a decade, and it fell from above $2,900 in January to a low near $1,472 in April. The token still trades about 62% below its record of roughly $4,954, set in August 2025.
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