Ethereum\u2019s native token has taken the most recent crypto market correction hard, with the asset diving to just over $2,000 earlier today, which became its lowest price point in almost two months.<\/p>\n
Moreover, it has dropped by 17% since its monthly high at $2,425, and the overall landscape seems quite bearish. Although Santiment Intelligence believes<\/a> this could be the necessary factor for a major trend reversal, the current environment is nothing short of underwhelming, to say the least.<\/p>\n After it was stopped at $2,400, $2,300, $2,200, and $2,100 earlier this week, the latest crucial support to give in was the $2,050 level during today\u2019s decline. According to popular analyst Ted Pillows, this opens the door for more profound corrections. Moreover, he warned<\/a> that if ETH loses the psychological $2,000 support as well, new lows \u201cwill just be a matter of time.\u201d<\/p>\n Fellow analyst CW noted that a large amount of ETH longs were liquidated on the way down. More specifically, data from CoinGlass shows that the total value of liquidated ETH longs is over $250 million on a daily scale, second only to bitcoin\u2019s $380 million.<\/p>\n CW added that as short positions closed, the Open Interest declined significantly and the Net Position Delta increased. They concluded that high-leverage longs are getting wrecked, while bearish bets are closing, which could lead to some market calmness.<\/p>\n During the decline, $ETH<\/a> long positions were liquidated in large amount.<\/p>\n Subsequently, as short positions closed, the Open Interest (OI) decreased and the Net Position Delta increased.<\/p>\n High-leverage long positions are being liquidated, and bearish bets are closing. pic.twitter.com\/bTYuT7tjnG<\/a><\/p>\n \u2014 CW (@CW8900) May 23, 2026<\/a><\/p>\n<\/blockquote>\n The silver lining for the Ethereum ecosystem at the moment is the return of an OG whale, as reported by Lookonchain. The analytics company\u2019s data shows that this market participant, who is known for pocketing a 376x return on their initial ETH investment from 10 years ago, has started accumulating again.<\/p>\n On-chain data reveals that this whale has acquired over $8 million worth of ETH at prices of around $2,050. Previously, they sold when the altcoin stood above $2,850.<\/p>\n As the market drops, another #EthereumOG<\/a> who made $34.2M(376x return) is buying the dip on $ETH<\/a>!<\/p>\n 10 years ago, this OG received 12,001 $ETH<\/a> from ShapeShift at just $7.58 each.<\/p>\n Over a year ago, he sold them for 34.3M $USDC<\/a> at $2,856, making $34.2M in profit \u2013 a 376x return.\u2026 pic.twitter.com\/vSfrYyo2Bl<\/a><\/p>\n \u2014 Lookonchain (@lookonchain) May 23, 2026<\/a><\/p>\n<\/blockquote>\n Prispevek Ethereum Tanks to 2-Month Low: Whales Return but Sub-$2K Fears Mount<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum\u2019s native token has taken the most recent crypto market correction hard, with the asset diving to just over $2,000 earlier today, which became its lowest price point in almost two months. Moreover, it has dropped by 17% since its monthly high at $2,425, and the overall landscape seems quite bearish. Although Santiment Intelligence believes […]<\/p>\n","protected":false},"author":1,"featured_media":44562,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[37],"class_list":["post-44560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds","tag-ethereum"],"yoast_head":"\nMore Trouble Ahead?<\/h2>\n
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OG Whale Returns<\/h2>\n
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