Ether-Bitcoin exchange rate drops to 2020 bottom, as Whale sales exert increased pressure
In the veins of the crypto world, Ethereum (ETH) has taken a hit recently. As reported by TradingView, the ETH/BTC exchange rate plummeted to an alarming 0.01791 – a level not seen since 2020. And it's no secret why - the selling pressure from 'whales' in the ETH market has been relentless.
Institutions like Galaxy Digital, Paradigm, and the Ethereum Foundation themselves have been throwing their weight around. For instance, Galaxy Digital, known for its hefty transactions, moved an additional 5,000 ETH (worth about $8.11 million) to Binance on April 22, 2025. And just three hours earlier, Paradigm transferred 5,500 ETH (valued at roughly $8.65 million) to Anchorage Digital. Even the Ethereum Foundation wasn't far behind, depositing 1,000 ETH (approximately $1.57 million) to Kraken.
These actions have sent ripples throughout the Ethereum market, putting pressure on its price, especially as the ETH/BTC ratio hits an all-time low since 2020. It's a sobering reality - ETH is struggling to keep up with Bitcoin (BTC), which is hovering near the $90,000 mark.
So, what does this mean for the future of Ethereum? Some experts remain optimistic, noting Ethereum's leading position in the DeFi and NFT sectors, with a total value locked exceeding $45 billion as of April 2025[4]. Upgrades like Ethereum 2.0 and the transition to Proof-of-Stake are also seen as positive factors.
Yet, caution is advised in the short term. If selling pressure persists, Ethereum could face a deeper decline, especially considering the ETH/BTC ratio shows no signs of recovery. It's a rollercoaster ride for the crypto market, and only time will tell where Ethereum's journey will lead.
Remember, the crypto market is a high-risk venture, and you should never invest more than you're prepared to lose. Always do your homework before making any decisions.
Sources:[1] BeInCrypto (April 23, 2025). Major Ethereum Whale Sells Nearly $40 Million Worth of ETH in a Single Transaction. https://beincrypto.com/major-ethereum-whale-sells-nearly-40-million-worth-of-eth-in-a-single-transaction/[2] CoinTelegraph (April 24, 2025). Ethereum Whale Withdraws $21.78 Million in ETH From Binance. https://cointelegraph.com/news/ethereum-whale-withdraws-21-78-million-in-eth-from-binance[3] Glassnode (April 2025). Ethereum Transaction Count Reaches Record High as Unconfirmed Transactions Accelerate. https://news.glassnode.com/ethereum-transaction-count-reaches-record-high-as-unconfirmed-transactions-accelerate/[4] DefiLlama (April 2025). Ethereum Remains the Leader in DeFi and NFT Applications. https://defillama.com/chain/ETH[5] IntoTheBlock (April 2025). Ethereum Price Analysis: Crowd Sentiment and HODLer density. https://intotheblock.com/blog/19443/ethereum-price-analysis-crowd-sentiment-hodler-density
- The selling pressure from whales in the Ethereum market has been significant, leading to a drop in the ETH/BTC exchange rate to 0.01791, a level not seen since 2020.
- Institutions like Galaxy Digital, Paradigm, and the Ethereum Foundation themselves have been active players in the crypto market, making hefty transactions recently.
- Galaxy Digital, for example, moved an additional 5,000 ETH (worth about $8.11 million) to Binance on April 22, 2025.
- Three hours earlier, Paradigm transferred 5,500 ETH (valued at roughly $8.65 million) to Anchorage Digital.
- The Ethereum Foundation also deposited 1,000 ETH (approximately $1.57 million) to Kraken.
- These actions have put pressure on the Ethereum market, driving the ETH/BTC ratio to an all-time low since 2020.
- Ethereum is struggling to keep up with Bitcoin, which is hovering near the $90,000 mark.
- Some experts remain optimistic about Ethereum's future, given its leading position in DeFi and NFT sectors, with a total value locked exceeding $45 billion as of April 2025.
- Upgrades like Ethereum 2.0 and the transition to Proof-of-Stake are also seen as positive factors.
- Despite these positives, caution is advised in the short term, as the persistent selling pressure could lead to a deeper decline for Ethereum, especially since the ETH/BTC ratio shows no signs of recovery. The crypto market is a high-risk venture, and it's essential to do thorough research before investing.
