Ether Whale Orders Shrink as $2B Short Cluster Sits Near $2K

Ether whale activity on a major exchange has slowed since the start of 2026, with roughly 2 million ETH traded in large-sized transactions over the past 45 days. CryptoQuant data shows average ETH whale sell orders on Binance fell to around 1,350 ETH from roughly 2,250 ETH in early January.

Assuming 15 to 35 whale-sized executions per day, cumulative gross sell-side turnover since Jan. 8 is estimated at 1.8 to 2 million ETH. Using an average price of $2,400, this equates to roughly $4.3 billion to $4.8 billion in large-order executions; the figure reflects gross traded volume rather than confirmed net outflows, as some flows may relate to hedging or liquidity provision within the derivatives market.

Analyst Darkfost said the decline in the average order size points to a "gradual disengagement" from larger participants, with smaller traders transacting at stable volumes while bigger players reduce direct interaction with order books.

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