Ethereum Whales Move Over $200M From Exchanges as Price Drops 3%

Ethereum (ETH) experienced a drop of around 3% in the past 24 hours, to trade near $4,513.50 today. This happened as the crypto market saw heightened activity. On-chain data from Lookochain reveal that Ethereum whales have actively been moving ETH worth over $20 million from exchanges such as Binance, FalconX, Kraken, and Bitget. Let’s dive into the details.

Ethereum Whales Scoop Up ETH

Lookonchain reported several large withdrawals on Monday, September 15, 2025. Within just 40 minutes, a newly created wallet 0x4d43 withdrew 4,208 ETH, worth about $19.5 million from Binance. Another new wallet, 0x9D99, pulled a total of 5,297 ETH ($24.7 million) from Binance and Bitget. A different whale address 0x7451 moved 13,322 ETH (around $61.6 million) from FalconX.

Kraken experienced the biggest move with wallet 0x9d2E, withdrawing around 21,925 ETH, worth about $102 million. The Ethereum whale accumulation adds up to over $208 million.

Why the Ethereum Price Drop?

The moves by Ethereum whales come at a time when the ETH price has experienced a 3% drop in the past day, trading at around $4,515.

The price dip can be attributed to a wave of liquidations in the derivatives market. CoinGlass data shows that over $108 million worth of ETH has been liquidated in the past 24 hours. Around 86% in long positions have been wiped out.

Another driving factor is the regulatory uncertainty that is affecting the market sentiment. The decision as to whether BlackRock can include staking in its Ethereum ETF has been delayed. The U.S. Securities and Exchange Commission (SEC) has postponed the approval to October 30. Similar proposals from 21Shares and Grayscale have their deadlines extended too.

What does Ethereum Whales Activity Mean?

The crypto market today interprets the withdrawals from exchanges as a bullish signal. This indicates accumulation of the token and long-term holding rather than short-term selling. However, the dropping of the Ethereum price within the whale accumulations shows the market is caught between long-term confidence as a result of whale accumulation or short-term selling pressure from cautious sentiment and liquidations.

Final Thoughts: Fear and Opportunity

Although retail traders are recording losses from long liquidations, whale confidence is standing out. Should weak hands get eliminated, Ethereum could recover. This could be fueled by positive news around ETF staking or if the Federal Reserve moves ahead with the rate cuts expected as soon as this week. The market is in a tag of war for now, with Ethereum’s whales taking advantage of the dip, while retail traders are left feeling the squeeze from liquidations.