Large Ethereum (ETH) transactions have recently been attracting attention from the crypto community. According to the Blockchain Data Tracker Whale Alert, 129,392 ETH, worth $312,981,377, has been transferred from unknown wallets to the main crypto exchange Coinbase.
🚨🚨🚨🚨🚨129,392 #eth (312,981,377 USD) Transfer from unknown wallet to #coinbasehttps://t.co/5tyotacgur
– Whale Alert (@Whale_Alert) June 20, 2025
The timing of the relocation is particularly noteworthy, with Ethereum price trading being traded in red. Deposits on the exchange mean that they are intended to sell, but withdrawals can mean buying. This move could be an institution where the exact reason for the movement and the exact reason for the identity of the sending wallet is unknown.
From this perspective, the market is looking closely to see if the ETH is sold, held in reserve, or reassigned. At the time of writing, Ethereum was trading lower, reflecting a wider sale in the crypto market, resulting in a $471 million liquidation.
Red ETH prices despite ETF inflow
The Ethereum ETF showed little demand in its first year, but the trend has since improved as institutional interest has been renewed. According to Sosovalue, funds to track Spot ETH prices are found in six consecutive weeks of inflows and the 8th Positive Week course of the past nine.
Despite the rise in flows, Ethereum prices have been negative this month and remain unchanged over the previous month.
Ethereum has fallen 25% due to uncertainty about Ethereum's value proposition, lower revenue since its last major technical upgrade, and increased competition with Solana. The recent market volatility, supported by macroeconomic uncertainty, has also been useless.
In March, Standard Chartered cut its Ethereum price target by more than half. However, the company also said the coin could see a recovery this year. At the time of writing, ETH fell 3.26% over the past 24 hours, down 4.17% per week to $2,425.
