Yeliz Akmaca 
Whale wallets have shifted towards selling millions of dollars worth of Ethereum and altcoins. Significant transfers have occurred in assets like PEPE, HYPE, LINK, and SOL, especially from ETH wallets inactive since the ICO era.
Whale Wallets Accelerate Altcoin Sales Over the Weekend
Whale sales intensified over the weekend. Large wallets transferred Ethereum (ETH) and many altcoins to exchanges. Notably, a wallet inactive since the ICO period has sold a total of 9,845.96 ETH since the end of May. The last sale was 991.67 ETH, valued at $2.51 million. With an initial purchase price of only $0.31, this whale draws attention with a slow selling strategy.
Another long-dormant wallet transferred 4,949.63 ETH to a centralized exchange. This move is seen as profit-taking or potential fear of a downturn. Additionally, a whale withdrawing 10,708 ETH from Lido sent it directly to OKX. Another whale depositing 1,054 ETH to Binance suffered a 25% loss.
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These transactions increase selling pressure, while some investors pursue different strategies. One whale invested 467.58 ETH in KTA tokens, showing some players still seek opportunities.
Crypto analysts emphasize that despite short-term sales, Ethereum’s fundamentals remain strong. After May’s rally, ETH is still consolidating. Increased ETF inflows and growing on-chain activity may signal continued upward momentum in the near term.
Major Selling Wave in HYPE, PEPE, LINK, and SOL
Significant sales have also occurred outside Ethereum. Hyperliquid’s HYPE token faced heavy pressure with one whale selling 131,137 HYPE, realizing over $38 million in profits. In PEPE, a whale sent 1 trillion tokens ($11.65 million) to Binance.
LINK also saw activity, with four wallets transferring a total of 356,000 LINK to Binance. These trades have a 97.3% ROI, indicating sales were mostly at peak levels. SOL sales stood out as well, with $7.52 million worth of SOL unstaked and largely moved to Binance. These moves show major players protecting their profits.
Similar sales in the past have led to short-term dips but often created buying opportunities at support levels. Investors should closely monitor on-chain data and trading volumes. If selling pressure continues, the market may face short-term pullbacks. However, new demand could push prices upward again.
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