Two ETH whales panic-sell during decline, offload >10,600 WETH/ETH

Published: 2026-02-01 02:12:22 |

On Feb 1 on-chain analyst Ai monitored two Ethereum (ETH) large traders who executed panic sells during the recent price decline. Whale nemorino.eth sold all 7,107.08 WETH over the past nine hours at an average price of $2,514.85, but its average cost basis for that position was $3,045.24 — realizing an estimated loss exceeding $3.769 million. Another large whale deposited roughly 3,500 ETH to multiple exchanges in the past six hours, averaging a deposit price of $2,406 per ETH (total value about $8.42 million). Combined, the two whales moved over 10,600 ETH/WETH onto exchanges or into sell positions within hours. The report highlights aggressive deleveraging and sell-side pressure from significant holders during the downturn. Market participants should note the speed and size of these moves, which can amplify short-term price volatility and increase realized losses for sellers who accumulated at higher prices. This is market information, not investment advice.

Bearish

Large, rapid sell-offs by two substantial ETH holders increase immediate sell-side pressure. Nemorino.eth’s full exit of ~7,107 WETH at a loss and the other whale’s 3,500 ETH exchange deposits (total >10,600 ETH/WETH) can worsen short-term liquidity and trigger further stops or algorithmic selling. Historically, coordinated or concentrated whale selling during downturns has amplified volatility and prolonged recoveries (e.g., past large exchange inflows leading to local price drops). Near-term, expect heightened volatility, possible downward price pressure, and thinner bids around the sold volumes. Long-term impact is more neutral: unless selling reflects wider capitulation or massive liquidation cascades, one-off whale dumps alone do not change ETH’s fundamentals. Traders should monitor exchange inflows, on-chain transfer trends, order-book depth, and funding rates to gauge whether pressure is transient or persistent. Risk management: tighten stops, reduce size, or hedge when whale-driven exchange inflows spike.