Ethereum Mega-Whales Sell Off, Signaling Uncertainty Amidst Price Decline

Ethereum mega-whale wallets have experienced significant decline, with large-holder addresses dropping by 10.3% in the past six weeks as price falls near $800. This trend reflects a weak Q1 for Ethereum, which marks its worst quarterly performance since 2018 and raises questions about investor confidence during declining market conditions. Analysis from on-chain data reveals a decrease of over 10% in wallets holding more than 10,000 ETH, coinciding with the price drop from $2,618 to $1,818 between February 23 and April 3, 2025. This shift in large-holder activity follows Ethereum’s significant Q1 downturn, highlighting market uncertainty.