The crypto market remains choppy and sluggish this week, with both Ethereum (ETH) and Cardano (ADA) slipping around 3%. Despite the lack of strong price action, fresh on-chain data reveals major whale activity behind the scenes – and that could change what happens next.
Ethereum Whale Transfers Shake Things Up
Data from The Data Nerd shows that within just 24 hours, over 95,000 ETH – worth more than $400 million – moved across major addresses. BlackRock deposited 33,884 ETH, valued at about $148.6 million. Meanwhile, mining pool Bitmine withdrew 38,709 ETH, around $167.2 million. To top it off, three fresh wallets collectively pulled 22,397 ETH from exchanges, totaling roughly $96.7 million.
Within 24 hours, there were big movements of $ETH:
— The Data Nerd (@OnchainDataNerd) September 5, 2025
– #BlackRock deposited 33,884 $ETH (~$148.64M)
– #Bitmine withdrew 38,709 $ETH (~$167.22M)
– 3 fresh wallets withdrew 22,397 $ETH (~$96.69M)
Addresses:https://t.co/gY1vhnGytPhttps://t.co/aA9IA7R8Cjhttps://t.co/ftd8ObbryD pic.twitter.com/FELizXL6jm
This kind of activity signals shifting liquidity. Large deposits can sometimes indicate sell pressure, while withdrawals often mean accumulation and long-term storage. The mixed signals highlight the uncertainty around Ethereum’s short-term direction.
Cardano Whales Offload 50 Million ADA
On the Cardano side, analyst Ali Martinez reported that whales sold around 50 million ADA in just 48 hours. At current prices, that’s roughly $41 million worth of tokens.
The chart shared by Martinez shows a clear decline in the holdings of addresses with 1 million to 10 million ADA, indicating that some large holders are taking profits or reducing exposure during this sluggish period. Despite the selling, ADA is still holding above $0.80, showing some resilience.
50 million Cardano $ADA sold by whales in 48 hours! pic.twitter.com/rZb8g67pLu
— Ali (@ali_charts) September 5, 2025
Ethereum’s heavy inflows and outflows indicate whales are repositioning ahead of potential September volatility. For Cardano, whale selling could create short-term pressure, but it may also offer buying opportunities for patient traders.
The bigger picture remains that both assets are in a cooling phase. With ETH trading near $4,330 and ADA around $0.81, the next few weeks will show whether this whale activity leads to deeper pullbacks or sparks renewed accumulation.
Read also: Chainlink (LINK) vs Cardano (ADA) – Which Altcoin Could Gain More in 2025?
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