Ethereum whales have seized the opportunity to accumulate over 130,000 ETH on Wednesday as the price of the cryptocurrency dipped below $1,800, marking its lowest point since November 2024, according to IntoTheBlock’s report.
At the time of writing, Ethereum is trading at around $1,700, down 6% over the past 24 hours, as per CoinGecko. The asset ended Q1 2025 with a 45% drop, one of its worst quarterly performances to date.
The recent price decline has been driven largely by macroeconomic uncertainty, triggered by the US’s announcement of new trade tariffs. On April 2, President Trump unveiled sweeping tariffs aimed at addressing the nation’s trade deficit and promoting domestic manufacturing. This policy shift has sparked a “risk-off” sentiment, causing investors to pull away from riskier assets, leading to broad sell-offs across both US stock and crypto markets.
However, some Ethereum whales appear to view the dip as a buying opportunity. According to data from Lookonchain, one whale purchased 6,488 ETH at $1,772 on Wednesday.
Ethereum’s Fundamentals Remain Strong Despite Market Doubts
While Ethereum has faced growing skepticism in recent months, with many questioning its dominance amid increasing competition, Jean Rausis, co-founder of the DeFi ecosystem Smardex, believes the network remains as strong as ever.
“Ethereum continues to be the go-to platform for decentralized applications, while Bitcoin is viewed as the ultimate store of value,” Rausis said in an exclusive statement to Crypto Briefing. “Despite the competition, Ethereum remains unmatched in security and adoption.”
Rausis also pointed to positive network metrics. In January 2025, Ethereum saw an average of 200,000 new addresses per day, double the number from the previous year. Additionally, average gas fees have dropped significantly to just $0.40, compared to the highs of $15 in the past two years.
“The price of ETH might be down in the short term, and some are quick to call it the end of the road for Ethereum,” Rausis continued. “But when the dust settles, it’s Ethereum that will still be standing, while many other blockchains making headlines today may not survive.”
“For long-term investors, these lower prices represent a generational opportunity, not a reason to panic over short-term losses,” he concluded.
Featured image from: zycrypto.com