A recent surge in whale activity has triggered a substantial sell-off of approximately $148 million worth of Ethereum (ETH). This event, fueled by the actions of several large cryptocurrency investors known as whales, has caused noticeable fluctuations in the ETH market. 34,400 ETH were sold across three prominent whale addresses, including one linked to the Ethereum Foundation and another suspected to be connected with a hacker. These sales have led to increased liquidity pressure in the Ethereum ecosystem, impacting trading volumes significantly. The resulting volatility caused exchanges to experience a surge in activity as ETH prices reached oversold levels due to the unexpected scale of this sell-off.