Are Ethereum OGs jumping ship? Here's what the data says
Long-term whales have cashed out millions of dollars from Ethereum following the recent sell-off, potentially putting ETH at risk of further losses....
Key takeaways
- 1One early Ethereum whale sold $136 million in ETH at average price of $2,041 per token over past week.
- 2Onchain HODL waves data shows long-term ETH holders (5-7 years) increased holdings to 9%, contradicting mass exodus narrative.
- 3Analysts project ETH could drop toward $1,500 support if key $1,800 level breaks, citing bear flag and Wyckoff structure.
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Why it matters
For Indian retail investors, this clarifies that despite one high-profile whale sale, most Ethereum OGs are holding strong—the selloff pressure comes from short-term traders instead. However, technical support breakdown could trigger sharp downside to $1,500, affecting portfolio valuations significantly.
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