A whale kept selling Ether into a rally that pushed the token past $2,500 and Ethereum's dominance above 11 percent on Sept. 4. The distribution pressure runs against fresh leveraged longs, leaving the breakout exposed if the level fails to hold.
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Ethereum whale offloads as ETH tops $2.5K, dominance above 11%
Ether climbed past $2,500 on Sept. 4, lifting Ethereum's market dominance above 11 percent, even as a whale kept offloading holdings into the advance.
Whale-tracking data from Arkham Intelligence shows the address has continued moving ETH toward exchange wallets during the breakout, a flow that typically precedes selling. The distribution has run alongside the price surge rather than against it, leaving the durability of the rally in question as fresh supply meets new demand at a level that had previously capped attempts higher.
The offloading is not the only large-position signal. A separate whale opened a roughly $44.85 million ETH perpetual long at 25x leverage, while another position stood near $107 million, according to Coinpedia. Those leveraged longs cut both ways: they add fuel to the breakout but would amplify downside if Ether fails to hold $2,500, since forced liquidations cascade once funding turns against crowded longs.
Ethereum's dominance crossing 11 percent points to capital rotating into ETH from other tokens as Bitcoin consolidates after its own advance. The rotation is broad-based. Solana drew a 100,000 SOL long worth about $10.45 million at 20x leverage and recorded roughly $28.34 million in weekly investment-product inflows, while XRP took in about $39.78 million, per Coinpedia. Hyperliquid's HYPE token also registered positive flows, sitting further up the risk curve as a higher-beta DeFi play on decentralized derivatives infrastructure.
ETH's relative strength and deep liquidity make it the clearest large-cap beneficiary of that shift, though rising leverage across the sector raises the risk of a sharp unwind if momentum stalls. The whale's persistent distribution adds a second, quieter pressure: each transfer toward exchanges builds an overhang that can cap upside even as dominance climbs.
The central question is whether Ether holds $2,500. If it loses that level, the unwind of leveraged longs could accelerate the pullback; if it holds, the breakout gives the rotation more room to extend through the rest of the quarter. The whale's next move — whether the offloading slows or hardens into a broader distribution — will help decide which path the market takes.
This article is for informational purposes only and does not constitute investment advice.
