Ethereum Whale Moves 50,000 ETH to Gemini, Sparking Selling Risk Concerns
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 21h ago- Whale Fund Transfer: A long-dormant Ethereum whale address transferred 50,000 ETH, worth approximately $145 million, to Gemini in the past 12 hours, raising market concerns about near-term selling risks.
- Historical Holdings: The same address withdrew about 135,000 ETH from Bitfinex roughly nine years ago when Ether was priced around $90, and now holds about 85,000 ETH valued at approximately $244 million, showcasing significant asset appreciation potential.
- Support Level Analysis: Ethereum is currently trading near $2,900, maintaining a critical support zone between $2,300 and $2,500 that has effectively absorbed downside pressure across multiple market cycles, indicating sustained buying interest at these levels.
- Future Trend Expectations: Technical charts suggest Ethereum may retest the support band before attempting a broader move towards the $3,600 area, and if the support holds, it will set the stage for price action into early 2026.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
