Ethereum Whales' $2.8B Buying Power Can't Stop Selling Pressure

Ethereum whales are holding significant amounts of both Ethereum (ETH) and stablecoins, giving them ample liquidity on either side of the market. According to CryptoQuant's PelinayPA, these large investors have not yet reached the psychological threshold that typically triggers heavy profit-taking.

Despite being comfortably in profit, Ethereum's Whale Net Unrealized Profit/Loss (NUPL) remains above zero. However, it has not yet reached extreme levels seen at previous market tops, suggesting whales have not entered the profit zone that leads to heavy selling.

The Binance Deposits Keep Selling Pressure Elevated metric shows that ETH deposits into Binance have increased sharply since late 2024 and remain elevated. This puts more ETH on the market, increasing the risk of selling pressure.

CryptoQuant's USDT and USDC Whale metric has climbed to $2.8 billion, indicating that large investors collectively control nearly $2.8 billion in stablecoin liquidity that could be deployed into Ethereum or kept on the sidelines. This gives them additional buying power alongside their existing Ethereum positions.