What Does ETH Need to Surge Past $3,000 Again as Whales Are Abandoning Ship?

Ethereum’s native coin finally managed to break its all-time high during the 2025 rally, but only mildly compared to other assets, such as BTC. Its subsequent behavior has been quite painful, as it now trades over 53% away from its peak at $4,950 from August 2025, even after the market-wide rebound seen in the past few weeks. Moreover, on-chain data shows that whales have been disposing of their assets, which begs the question: what does ETH need to recover to $3,000 and beyond?

Whales Moving Off ETH?

Recall that ETH whales went on a massive accumulation spree in the middle of last year, which peaked shortly after the asset’s all-time high and before the massive market-wide crash in early October. More precisely, those holding between 1,000 and 10,000 tokens had increased their portfolios from 12.95 million to 15.95 million in just several months, according to data shared by Ali Martinez. Since then, though, their behavior has changed completely aside from a few brief exceptions. Their total holdings have declined by 21.5%, Martinez continued, bringing them below the starting point of 12.95 million to 12.52 million ETH. Given this significant whale exodus, Martinez questioned whether they will be able to sustain a more profound rally to $3,000 and beyond. In fact, he suggested that the asset might require “a fresh wave of institutional or retail demand” to offset the whales’ distribution.

Ethereum whales are doing something they haven’t done in a year.

Since October 6, 2025, Ethereum whales holding 1,000 to 10,000 $ETH have undergone a significant regime change in their market behavior.

Before this shift, this cohort was in a steady accumulation regime. Their… pic.twitter.com/qezrxfq6Re

— Ali Charts (@alicharts) May 7, 2026

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