Ethereum Whales Unload $63M, But Market Absorbs the Selling Pressure
A recent surge in Ethereum prices has led to large-scale sales by some of its wealthiest holders. On August 21, 7 Siblings sold a combined total of 14,000 ETH for $32.85 million at an average price of $2,346. This sale was not an isolated incident, as another whale also unloaded 11,252 stETH and 1,824 ETH, converting roughly $30.78 million into USDT.
Despite these large transactions, Ethereum's price remains relatively stable, with a 3.58% increase in the past 24 hours to $2,400. This uptrend is supported by strong demand from spot buyers and exchange withdrawals. In fact, Ethereum spot ETFs attracted $220.77 million in net inflows on August 20, their strongest single-day inflow since October 2025.
The combined activity shows that some large holders are locking in gains rather than waiting for higher prices. However, it is essential to note that these transactions do not by themselves prove a broader bearish shift. The market response matters more, particularly whether spot buyers continue absorbing supply.