Key Takeaways:
An unidentified whale sold 3.6 million Ether.fi (ETHFI) tokens for $1.5 million on April 12, an event that has sent the token’s price spiraling toward a key support level.
"The sale of 3.6 million ETHFI in a single transaction represents a significant liquidity event that the market is struggling to absorb," said a researcher from on-chain analysis firm Lookonchain, which first flagged the transaction. "This kind of volume from a single holder often spooks retail investors."
The sale was executed at an average price of approximately $0.417 per token. According to CoinGecko data as of 06:00 UTC, the transaction has contributed to a sharp increase in selling pressure, with ETHFI's 24-hour trading volume on decentralized exchanges like Uniswap surging. The token's price is currently testing the $0.40 support level, a critical psychological and technical benchmark for traders.
The key question now is whether this support level will hold. A break below $0.40 could trigger a cascade of stop-loss orders and further liquidations, potentially pushing the price toward the next support zone near $0.35. This whale's move highlights the inherent volatility within the Altcoins & DeFi space, where the actions of a single large holder can disproportionately impact market dynamics, affecting sentiment across related assets in the liquid restaking sector like Lido (LDO) and Rocket Pool (RPL).
This article is for informational purposes only and does not constitute investment advice.
