Ethereum, which was seen nearing $5,000 recently, is now trading at $4,197.35 with a massive loss of 9.28% in the past 7 trading sessions, and it lost nearly 1.01% of its price intraday.
At one time this month, Ether was closely competing with Mastercard in terms of market capitalization, but in the past few sessions, it has continued to decline and is smaller than Netflix, which has a market cap of $515.92 billion.
According to the data from CoinMarketCap as of press time, the market cap of ETH was $506.02 billion with a clear decline of more than 8.70% in a week.
Growing volume indicates continued selling in Ethereum
Lookonchain wrote in its X post dated August 20, 2025, that following the decline in the ETH/BTC ratio, whale ‘0x6e18’ has swapped 3,900 Ether for 143.26 WBTC at a rate of 0.03673.
It has also been reported that a legendary trader went long ETH again but was liquidated in the market crash, losing $6.22 million.
Post dated August 19 by Lookonchain notes that whale 0x1D8d has deposited 17,972 ETH to Coinbase, whale 0x5A8E has moved 13,521 Ether to Binance, and whale 0x3684 has made a transfer of 3,003 ETH to Binance the same day.
Whale Insider recently posted that Fidelity has sold 36,250.03 ETH for $150.8 million, and it was also reported that it sold 17,536.56 Ether valued at $74.3 million.
Market experts argue that the selling in ETH has been growing as its prices seem to be slipping below the assumed support of $4,300, and if it falls below $4,000, there are higher chances of growing selling volume.
Companies are leveraging the continued sell-off in Ethereum
On-chain data suggest the growing selling of Ether among retail and small traders, but the bearish sentiment seems to be fully leveraged by publicly listed companies, as a growing accumulation is noted over the last few days.
On August 19, 2025, Bitmine Immersion was reported to have bought 52,475 ETH for nearly $220,000,000 on the same day SharpLink Gaming came into play with a reported buying of 143,593 Ether for $667 million.
Also, it was noted in the same session that SharpLink Gaming scooped up 11,956 ETH valued at $51.4 million. The press release by the company dated August 19 notes that its total holdings have climbed to 740,760 ETH as of August 17.
