Ethereum (ETH) experienced a steep price decline, dropping below the $1,500 mark and triggering panic selling and liquidations among some large investors. While many whales sold their ETH holdings, others took advantage of the dip to purchase at a lower price. This dynamic suggests the ongoing impact of DeFi on ETH’s trading dynamics. 4,500+, the token reached new highs as bullish sentiment grew. However, its subsequent decline was marked by several large-scale selling events involving whales. These include centralized exchanges and decentralized platforms like Maker. 7/7, ETH experienced a massive crash, dropping to $1,542.17, with further losses in later hours. This drop resulted in liquidations across both centralized and decentralized marketplaces. 7/7 witnessed high-profile selling events, including the large-scale trading from Symbolic Capital Markets, adding over 38,000 ETH to exchange listings. The market crash was preceded by whales selling coins on centralized exchanges and one high-profile liquidation on Maker, a decentralized lending platform. This selling activity accelerated during the opening hours of Asian markets, creating panic selling. The price decline further triggered more liquidations in DeFi, particularly through Maker’s decentralized protocol. One notable example involves a whale with 56,995 WETH in a Maker vault that was liquidated after their collateral ratio hit 143% and they attempted to borrow DAI. Another whale faced liquidation for 53,074 ETH at $1,495 per ETH. Liquidations may not be immediately reflected as some whales will wait until market conditions improve before repaying their loans. Meanwhile, the amount of ETH threatened by liquidations in decentralized protocols currently hovers around $1.1 billion. Whales are utilizing stablecoins like DAI, USDT and USDC to navigate the downturn. Some whales have even started buying back into the market at a lower price point, which suggests that they view this dip as an opportunity to re-enter the market strategically. The Seven Siblings, known for their substantial ETH holdings (nearly 600 million dollars), bought around 24,817 ETH during the recent price drop and are actively utilizing these new reserves in various DeFi strategies like staking. These strategies may help improve their average buy points in the long term, especially as Ethereum’s chain introduces larger staking deposits up to 2,048 ETH. The overall market downturn remains a significant concern. However, the continued buying by whales suggests that they are viewing this dip as an opportunity for strategic trading.