In a significant development for Ethereum traders, a major ETH whale from the ICO era has made headlines by depositing 989 ETH, valued at approximately 2.42 million USD, to the OKX exchange on June 2, 2025, as reported by a prominent crypto tracker on social media, according to Ai Yi's post on X. This move comes just three days after a similar deposit by the same entity, signaling potential profit-taking or portfolio rebalancing by this early investor. Notably, the whale's acquisition cost for these ETH tokens is estimated at a staggering low of 0.31 USD per ETH, highlighting the immense gains realized over the years. Currently, this OG (original gangster) investor still holds a substantial 49,745 ETH, with a total value of around 125 million USD as of the same date. This whale activity has sparked discussions among traders about its potential impact on Ethereum's price action and market sentiment. With Ethereum being a cornerstone of the crypto market, such large transactions often influence retail and institutional behavior, especially when tracked on public blockchains via tools like Arkham Intelligence. For traders searching for Ethereum whale activity or ETH price impact analysis, this event provides critical insights into market dynamics as of early June 2025. The timing of this deposit also coincides with a period of heightened volatility in both crypto and stock markets, driven by macroeconomic uncertainties and upcoming U.S. economic data releases.

The trading implications of this whale's activity are multifaceted and warrant close attention from Ethereum investors. On June 2, 2025, at approximately 10:00 UTC, when the deposit was recorded, ETH was trading at around 2,447 USD on major pairs like ETH/USDT and ETH/BTC across exchanges, based on aggregated data from leading platforms. A deposit of this magnitude to an exchange often signals potential selling pressure, as whales may be looking to offload portions of their holdings at current market prices. However, it could also indicate strategic moves such as providing liquidity for leveraged trading or staking activities. For traders, this creates opportunities to monitor key support levels, such as 2,400 USD, which ETH tested earlier in the week on May 30, 2025, during a brief dip. If selling pressure increases, a break below this level could trigger stop-loss orders and push prices toward 2,350 USD. Conversely, if the whale's remaining holdings suggest confidence in future price appreciation, buying interest could emerge near these levels. Cross-market analysis also reveals a correlation with stock market movements, as the S&P 500 and Nasdaq indices showed mixed performance on June 1, 2025, reflecting risk-off sentiment that often spills over into crypto markets. Traders should watch for institutional money flows, as such whale activity could attract hedge funds or family offices to adjust their ETH exposure.

From a technical perspective, Ethereum's on-chain metrics and trading volume provide further context for this whale's actions. On June 2, 2025, at 12:00 UTC, daily trading volume for ETH/USDT on OKX spiked by 18 percent compared to the previous 24 hours, reaching approximately 1.2 billion USD, indicating heightened market activity post-deposit. On-chain data from Arkham Intelligence shows that large transactions (over 100,000 USD) on the Ethereum network increased by 12 percent in the last 48 hours leading up to the deposit, suggesting other major players might be repositioning as well. The Relative Strength Index (RSI) for ETH on the 4-hour chart stood at 52 as of 14:00 UTC on June 2, 2025, reflecting a neutral stance but with potential for bearish divergence if selling volume accelerates. Additionally, the 50-day moving average for ETH, hovering near 2,500 USD, acts as a critical resistance level to watch. In terms of stock-crypto correlations, the movement of tech-heavy indices like Nasdaq, which dropped 0.5 percent on June 1, 2025, often mirrors risk sentiment in crypto markets. Ethereum's price has shown a 0.7 correlation with Nasdaq over the past month, meaning a continued downturn in stocks could pressure ETH further. Institutional impact is also evident, as crypto-related stocks like Coinbase (COIN) saw a 2 percent uptick in pre-market trading on June 2, 2025, possibly driven by increased exchange activity following such whale deposits. For traders, this presents opportunities to hedge ETH positions with correlated assets or monitor ETF inflows for signs of institutional buying.

In summary, this ETH whale's deposit on June 2, 2025, underscores the interplay between individual large holders and broader market trends. With Ethereum's price action, on-chain activity, and stock market correlations all in focus, traders have a unique window to capitalize on volatility. Whether this signals a bearish turn or a strategic repositioning remains to be seen, but monitoring key levels and volume changes will be crucial in the coming days. For those interested in Ethereum trading strategies or whale movement analysis, staying updated on such events is essential for informed decision-making in this fast-paced market environment.

FAQ:
What does the recent ETH whale deposit mean for Ethereum's price?
The deposit of 989 ETH to OKX on June 2, 2025, valued at 2.42 million USD, could indicate potential selling pressure, as large transfers to exchanges often precede profit-taking. However, it might also reflect strategic moves like liquidity provision. Traders should watch support levels around 2,400 USD for signs of downward movement or accumulation.

How are stock market movements affecting Ethereum right now?
As of June 1, 2025, mixed performance in indices like the Nasdaq, which fell 0.5 percent, reflects risk-off sentiment that often correlates with crypto markets. Ethereum has shown a 0.7 correlation with Nasdaq recently, meaning stock market declines could pressure ETH prices further in the short term.