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$157 million in Ethereum (79,000 ETH) was transferred to the Kraken cryptocurrency exchange by co-founder Jeffrey Wilcke, raising concerns about potential selling pressure.
Ethereum recently dropped about 8% and is struggling to regain the $2,000 level, placing strong attention on the $1,800 support zone.
Institutional flows are mixed, with about $82 million in ETF outflows, while exchange supply remains relatively low as many long-term holders keep assets off exchanges.
Ethereum is under new pressure after a large amount of coins moved to a cryptocurrency exchange. About 79,000 ETH, worth around $157 million, was sent to the Kraken exchange by Ethereum co-founder Jeffrey Wilcke. This big transfer quickly caught the attention of traders and crypto analysts.
Big transfers like this often make the market nervous. When large holders move coins to exchanges, those coins can be exchanged easily. Many investors worry that selling could happen soon. This fear can cause prices to drop temporarily as traders react.
The transfer also happened while Ethereum was already struggling to stay above the $2,000 price level. This level is important for the market, and many traders view it as a key indicator of Ethereum’s strength.
Blockchain data shows that the wallets used in this transfer had not been active for about seven months. The sudden movement surprised the market and created talk that the coins might be sold.
No sale has been confirmed so far. However, the transfer still affected the mood of the digital asset space. Crypto markets often react strongly when founders and whales move their coins.
These holders control large amounts of crypto, so their actions can affect market supply. When a large amount of coins moves to an exchange, traders often think more coins may be sold soon.
If many coins are sold in a short time, ETH price can drop quickly.
After the transfer became public, Ethereum experienced noticeable volatility. The price fell by 8% during early March trading, adding to the ongoing pressure on the broader crypto market.
Ethereum has attempted several times to recover above $2,000, but each recovery attempt has been weak. Sellers continue to appear near this level, preventing a strong breakout.
The market has started trading inside a narrow range. Most price activity has remained between $1,800 and $2,000, making these levels extremely important for the next move.
At the same time, institutional investment flows have also shown mixed signals. Spot Ethereum exchange-traded funds recorded about $82 million in daily outflows, with a large share coming from Fidelity’s Ethereum fund. These withdrawals suggest that some institutional investors have recently reduced exposure.
Lower demand from large investors can add extra pressure to prices during uncertain market periods.
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The $1,800 price level is now very important for Ethereum. This level is called support, which means buyers usually step in to stop the price from falling further.
If Ethereum stays above $1,800, the market could calm down, and the price might try to rise again.
If strong selling pushes the price below $1,800, the drop could become bigger.
Some analysts say the next support could be around $1,740. If the market weakens, the price could even fall toward $1,400, which would be a much larger decline.
Right now, the $1,850 to $1,900 range may help support the price for a short time before Ethereum tests the $1,800 level again.
Despite the recent worries, some blockchain datasets show a more balanced situation. One important factor is the amount of Ethereum kept on exchanges.
In the past few months, the amount of Ethereum on exchanges has dropped to multi-year lows. This means many long-term investors are moving their coins to private wallets instead of keeping them on trading platforms.
When fewer coins are on exchanges, selling pressure can be lower as there are fewer coins available to sell quickly.
There are also signs that big investors remain interested in Ethereum. Earlier in 2026, spot Ethereum ETFs saw about $157 million in one day, showing that large investors were still entering the market.
Some companies are also buying and holding ETH for the long term as part of their treasury plans. This suggests that some institutions still believe in Ethereum’s future and its blockchain technology.
Also Read - What’s Next for Ethereum (ETH)? March 2026 Price Prediction
Ethereum is at an important point right now. The market is watching closely to see whether the $157 million transfer will lead to real selling or was just a wallet movement.
If buyers keep the price between $1,800 and $1,900, Ethereum could try to rise again and move toward the $2,000 level.
If Ethereum price falls below $1,800, selling could increase, and ETH may drop further.
For now, Ethereum is in a weak and uncertain position. The next few weeks may decide whether the market becomes stable or dips even lower.
1. Why did the $157 million Ethereum transfer attract attention?
Large transfers to a cryptocurrency exchange can signal potential selling as funds moved to trading platforms become easier to sell in the crypto market.
2. How much Ethereum was transferred in the transaction?
About 79,000 ETH, valued at roughly $157 million, was moved to the Kraken cryptocurrency exchange.
3. Why is the $1,800 level important for Ethereum?
The $1,800 price zone acts as a key support level where buyers may step in. If the price falls below this level, further declines could occur.
4. What recent signals have come from institutional investors?
Spot Ethereum ETFs recently recorded $82 million in daily outflows, indicating short-term caution among some institutional participants.
5. Is Ethereum still seeing long-term interest?
Yes. Some companies and institutional investors continue accumulating Ethereum, and exchange balances remain relatively low as many holders store coins in private wallets.
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