The drop of Ethereum ETH $1,960.05 Bridged Ether (StarkGate) -0.93% Market capitalization $44.92 million VOL. 24 hours $0.63 billion by more than 15% in a day led to a large-scale liquidation of crypto assets: one of the major investors, the so-called «whale,» lost 67,570 ETH, which is approximately $ 106 million. The sale took place on the Maker platform as a result of a sudden drop in the value of the coin from over $ 1,800 to around $ 1,500 on the evening of April 6, according to data from the Lookonchain analytical service.
Ethereum’s drop was part of a broader correction in the crypto market. The total market capitalization fell by about 8%, dropping to $ 2.6 trillion. Bitcoin dropped below $ 78,000, and other key altcoins also suffered serious losses: XRPdropped by 10% to below $ 1.9, BNB $612.30 BNB 0.13% Market capitalization $83.49 billion VOL. 24 hours $66.54 million - by 5% to $ 562. Solana SOL $83.81 Binance-Peg SOL 1.65% Market capitalization $92.11 million VOL. 24 hours $0.24 billion , Dogecoin DOGE $0.10 Binance-Peg Dogecoin 0.20% Market capitalization $0.25 billion VOL. 24 hours $54.99 million , and Cardano ADA $0.27 Binance-Peg Cardano -0.65% Market capitalization $0.12 billion VOL. 24 hours $19.66 million fell by about 11%, whileheld steady with a relatively modest 2% drop.
Amid the general collapse, some investors panicked. One of them sold 14,014 ETH for about $ 22 million. Other major players, however, see the situation as a chance to add to their portfolios. For example, an investor known as «7 Siblings» purchased 24,817 ETH for $ 42 million, increasing his total reserves to more than 1.2 million coins (estimated value of $ 1.9 billion).
The same investor has spent almost $ 230 million to buy 103,543 ETH since February 3, but has now suffered a $ 64 million loss. Analytical company IntoTheBlock reported that in just one day — after the announcement of Donald Trump’s tariff policy — large investors bought more than 130,000 ETH, expecting the market to recover.
As a result of all these events, the ETH/BTC trading pair fell to its lowest level since March 2020 — 0.021. This dynamics indicates a decrease in the relative value of Ethereum compared to Bitcoin amid growing uncertainty and overall market vulnerability.