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Galaxy Digital, Whales, Institutions, and Retail Investors are Unloading Their Ethereum Holdings
The recent sell-off in the Ethereum market has taken a drastic turn as various investors, including Galaxy Digital, whales, institutions, and retail investors, have joined forces to dump their Ethereum holdings. This mass exodus from the market could potentially lead to further trouble for the asset.
Galaxy Digital’s Disposition of Ethereum Holdings
One of the biggest players in the Ethereum investment ecosystem, Mike Novogratz’s Galaxy Digital, has been aggressively disposing of its ETH assets. The company has made multiple significant transfers to centralized exchanges like Binance and Coinbase over the past five days alone, totaling $80 million worth of ETH.
Galaxy Digital deposited 49,681 $ETH ($79.37M) into #Binance and #Coinbase in the past 5 days https://t.co/owM3zRHpAx pic.twitter.com/S12BGwsSCH — Lookonchain (@lookonchain) April 17, 2025
Whales Joining the Sell-Off
Major investors, known as whales, have also decided to offload their Ethereum holdings. These massive sell-offs could potentially lead to a drastic decline in the asset’s value.
Institutional Investors Fleeing the Market
Institutions, which are often considered to be more risk-averse than individual retail investors, are now joining the exodus from the market. This sudden change in sentiment is causing significant volatility and uncertainty among market participants.
Retail Investors’ Role in the Sell-Off
Retail investors, who have been enticed by the asset’s potential for growth, are also contributing to the sell-off. According to on-chain data, one investor has already accumulated a loss of $2.6 million (-58.6%) since the last attempt at reaching the previous high.
What’s Next for ETH?
Ethereum peaked at around $4,000 during this cycle but failed to break through that level despite numerous attempts. The asset then experienced a period of decline, only to recover slightly from its two-year low of $1,400. It is now trading at approximately $1,600.
In the event that the crucial support level fails, Ethereum could plummet to as low as $1,100. However, some crypto analysts remain optimistic about the asset’s potential for growth despite the ongoing correction and sell-offs.
Source: https://cryptopotato.com/galaxy-digital-whales-institutions-retail-sell-off-ethereum-how-low-can-eth-go/
