Ethereum Whales Make a $110 Million Move as Market Pressure Builds

Ethereum (ETH) is facing selling pressure in January 2026, evidenced by whales and institutional players transferring over $110 million worth of ETH to major exchanges like Gemini, Binance, Bybit, and OKX. Specific large transfers included one wallet moving 13,083 ETH ($43.35 million) and FG Nexus selling 2,500 ETH ($8.04 million). Such exchange inflows often signal potential selling, though they can also be for rebalancing or hedging. Concurrently, the Coinbase Premium Index shows weaker US institutional demand. However, underlying support remains strong, indicated by persistent demand for staking, with 2.7 million ETH in the entry queue and a long wait time, suggesting long-term commitment to the network. Analysts also point to technical signals, suggesting ETH is in a re-accumulation phase with potential upside toward $3,600.

(Source：BeInCrypto)