Long established wallets storing эфириум, are selling off the asset at the fastest pace since 2021. The market is having to absorb approximately 45,000 ETH received from early investors daily.
Following the latest wave of selling, the altcoin’s price fell to $3152,17 due to declining sentiment and long liquidations. Open interest in ETH fell to $17 billion following the latest round of liquidations.
According to Glassnode data, a significant portion of the sales came from wallets aged between 3 and 10 years. Their owners are locking in profits to avoid another bear market.
The strategic sell-off of «whales» means that Ethereum currently has more profit potential. The market-to-realized value (MVRV) ratio indicates a buildup of wallets with significant unrealized profits.
A negative MVRV value is a sign of market capitulation, which ETH hasn’t reached even during previous sell-offs. Historically, Altcoyin shows negative values for months, especially during prolonged bear markets.
The MVRV ratio has currently reached its 2025 high of 2,1, which could lead to selling pressure if some whales decide to increase their average price. ETH remains actively traded, with some of the supply still used for short-term swaps.
Meanwhile, retail investor sentiment towards Ethereum is at a one-year low. Fear and Greed Index ETH is at 29 points, indicating anxious trading sentiment.
Last day Altcoyin fell more than 9,3% to $3,168.