Large Investors Accumulate Ethereum as Price Drops Below $1,800
Ethereum whales purchased over 130,000 ETH on Wednesday, data from IntoTheBlock reveals.
This accumulation occurred as the price of the cryptocurrency fell below $1,800, reaching its lowest point since November 2024.
The price drop presented a buying opportunity for these large investors.
Ethereum Price Declines Amid Market Downturn
Currently, Ethereum trades around $1,700, CoinGecko reports, marking a 6% decrease in the last 24 hours.
Q1 2025 concluded with Ethereum experiencing a 45% price decline, making it one of the worst quarters for the asset.
Macroeconomic uncertainty, driven by new US trade tariffs, heavily influences these recent price drops.
US Trade Tariffs Trigger Market “Risk-Off” Sentiment
President Trump announced sweeping tariffs on April 2nd, aimed at reducing US trade deficits and boosting domestic manufacturing.
This policy shift has created a “risk-off” sentiment in the market. Investors are moving away from riskier assets, causing broad sell-offs in both US stock and crypto markets.
Despite the general sell-off, some whales see the Ethereum price drop as a buying opportunity.
Lookonchain data shows one whale bought 6,488 ETH at $1,772 today.
Analyst Emphasizes Ethereum’s Enduring Strength
Despite market skepticism, Ethereum maintains fundamental strength. Investors have questioned Ethereum’s dominance amid increasing competition.
Smardex co-founder Jean Rausis asserts Ethereum’s strong position.
“While Bitcoin is seen as the ultimate store of value, Ethereum is the go-to platform for the future of decentralized applications,” Rausis stated.
He added, “Ethereum remains unmatched in security and adoption, despite many other blockchains attempting to take its place.”
Network Metrics Show Positive Signs for Ethereum
Network metrics indicate Ethereum’s underlying health, according to the analyst.
Daily new Ethereum addresses averaged 200,000 in January 2025, doubling the 2024 average.
Average gas fees have decreased to $0.4, down from $15 peaks in the past two years.
Rausis concludes that current lower Ethereum prices are a “generational opportunity” despite short-term price fluctuations.
He believes Ethereum will persist long-term, outlasting many current high-profile blockchains.
Also Read: Ethereum Price Recovers Slightly Professional Traders Remain Cautious
