Gate News Bot Message, December 29 — According to CoinMarketCap data, at the time of press, ETH (Ethereum) is trading at $2,980.82, up 1.34% in the past 24 hours, with a high of $3,073.35 and a low of $2,888.99. The 24-hour trading volume reached $10.471 billion. The current market capitalization is approximately $359.77 billion, an increase of $4.768 billion from yesterday.
Recent Important ETH News:
1️⃣ Whales continue to reduce positions at high levels for profit, short-term selling pressure persists
On-chain data shows that the well-known whale address 0xA339 sold 24,700 ETH over the past week, exchanging for 73 million USDC, with an average selling price of $2,954. After establishing a long position through cyclic borrowing, this address has sold a total of 50,623 ETH, totaling approximately $147.88 million in stablecoins, realizing a floating profit of over $15 million. This large-scale phased profit-taking indicates that arbitrage positions at high levels are still being released, and short-term selling pressure remains significant, exerting downward pressure on the price.
2️⃣ Swing trading whale strategy shifts, bullish signals weaken
The so-called “pension-usdt.eth” swing trading whale recently shifted from long to short, using 3x leverage to short 20,000 ETH at an entry price of about $2,921. Over the past 30 days, this address has profited approximately $14.59 million from short-term swing trading, with total profits exceeding $24.78 million. The strategy adjustment from long to short reflects some professional traders’ cautious attitude toward short-term trends, possibly indicating weakening bullish momentum in the market.
3️⃣ Institutional fund flows diverge, staking forces hedge reduction pressure
Bitmine has continuously increased ETH staking, adding 84,960 ETH over the past week, with total staked amount reaching 342,560 ETH, worth about $10 billion. Meanwhile, SharpLink un-staked 35,627 ETH from liquid staking, valued at $104.4 million. This divergence in institutional fund flows suggests that long-term allocators remain optimistic about Ethereum’s medium-term value, increasing staking to participate in ecosystem yields, partially offsetting the selling pressure from whales reducing positions, thus providing market support.
4️⃣ Options expiry releases risk, short-term volatility may intensify
Over 1.26 million ETH options are set to expire on December 29, with a notional value of approximately $3.77 billion. The put options trading ratio is significantly higher than call options, indicating a bearish market sentiment. The $3,000 level is seen as a critical pain point, and with current prices around $2,980, near this key level, options settlement could trigger short-term volatility, and investors should be cautious of liquidity risks.
5️⃣ Technical pressure but long-term fundamentals remain supportive
Currently, over 40% of Ethereum supply is in loss, and market sentiment is relatively subdued. However, two major upgrades in 2026 — Glamsterdam and Heze-Bogota — are expected to significantly enhance network performance and censorship resistance. Analysts forecast ETH’s TVL could increase tenfold by 2026, with tokenized RWA reaching $300 billion, and asset tokenization potentially pushing ETH prices to $7,000–$9,000. These long-term positives provide valuation references for bottom-position holders.
This message is not investment advice; investors should be aware of market volatility risks.
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