- Ethereum whale lost over 100 million dollars as the price dropped more than 10 percent amidst a broader crypto market decline.
- Ethereum whales are still buying the dip with some large investors acquiring more ETH despite facing significant losses.
An Ethereum whale experienced a dramatic loss of over $106 million following a sharp price dip that saw ETH plummet more than 10%. On Sunday evening, Ethereum fell from above $1,800 to around $1,500, triggering the liquidation of 67,570 ETH units worth approximately $106 million on the Maker platform, according to Lookonchain’s report.
As $ETH plummeted, the 67,570 $ETH($106M) held by this whale on #Maker was liquidated!https://t.co/kXSkKh1H0P pic.twitter.com/IDjzbQ8P3z
— Lookonchain (@lookonchain) April 7, 2025
Broader Market Downturn
This major liquidation comes at a time when the entire cryptocurrency market is feeling the weight of renewed selling pressure. The broader market experienced significant losses following a decline in the US stock market. The drop in Bitcoin’s price below $78,000, spurred by President Trump’s aggressive tariff policies, added fuel to the bearish sentiment sweeping through the market.
As a result, the total cryptocurrency market capitalization dropped by about 8%, settling at $2.6 trillion. Other major cryptocurrencies were also impacted. XRP saw a 10% decline, falling below $1.9, while Binance Coin (BNB) dropped 5% to $562. Solana, Dogecoin, and Cardano each suffered losses of around 11%, with TRON showing more modest losses of just 2%.
Ethereum’s Struggles Against Bitcoin
As ETH faced price declines, the ETH/BTC trading pair reached its lowest level since March 2020, hitting 0.021 on April 6. This dip highlights the struggle Ethereum is facing against Bitcoin in the current market conditions.
Opportunistic Whales and Market Reactions
Despite the turbulent market conditions, some Ethereum whales are taking advantage of the dip, using the price drop as an opportunity to accumulate more ETH. A well-known whale, “7 Siblings,” recently bought 24,817 ETH for $42 million, boosting their total holdings to more than 1.2 million ETH. This move raised their total holdings’ value to approximately $1.9 billion.
Interestingly, the same investor has spent nearly $230 million since February to acquire 103,543 ETH, currently facing a loss of about $64 million on their investment. Furthermore, another investor panic-sold 14,014 ETH, valued at $22 million, during the recent market slide.
The Bigger Picture
Despite these setbacks, whales and long-term investors are holding their ground in a volatile market. According to IntoTheBlock, large investors bought up 130,000 ETH on Thursday as Ethereum’s price dipped below $1,800 in the aftermath of the tariff announcement. This suggests that while some investors are exiting the market, others are seizing the opportunity to acquire more Ethereum at discounted prices.
In summary, while Ethereum whales face major liquidations and market fluctuations, there remains optimism among certain investors, who view the downturn as an opportunity to accumulate more of the second-largest cryptocurrency by market cap.
