According to on-chain data analysis, two suspected related addresses have recently concentrated on selling a large amount of Ether (ETH). These two addresses sold a total of 3810.76 ETH within just 10 hours, with a total transaction amount reaching 13.92 million USD. It is worth noting that these ETH were accumulated between October 2024 and June 2025, with average costs of 2940 USD and 2977 USD respectively.

Through this concentrated dumping, the investor may have realized a profit of approximately $2.693 million. From the trading pattern, the dumping behavior started yesterday, adopting a batch operation strategy. Currently, these two addresses have transferred a total of 5540.76 ETH to the exchange, worth about $20.09 million.

This large-scale dumping has attracted market attention. Some analysts believe that this may reflect the judgments of certain large holders regarding short-term market trends, or it could be due to considerations of fund allocation or risk management. However, given the overall scale of the Ethereum market, the direct impact of this dumping on the market may be limited.

For ordinary investors, the actions of large holders are often seen as one of the market signals. However, experts remind that when making investment decisions, it is still necessary to consider multiple factors comprehensively, including the macroeconomic environment, technological developments, regulatory attitudes, etc., and not to overinterpret a single event.