In a notable on-chain activity, a crypto whale identified as 0x3c9 has reportedly used profits from trading the meme coin PEPE to bolster their Ethereum (ETH) holdings, showcasing a strong preference for ETH as a long-term asset. According to insights shared by a prominent crypto analyst on social media, this whale realized approximately 6.86 million USD in profits by transferring and selling their PEPE holdings into a centralized exchange (CEX) just four days ago, around June 1, 2025, at approximately 10:00 UTC. Following this profitable exit, the whale withdrew not only stablecoins but also a significant amount of ETH from Kraken, totaling 2,700 ETH valued at around 6.99 million USD, within the last 12 hours as of June 3, 2025, 12:00 UTC. This move suggests a strategic reallocation of capital from meme coin gains into a more established cryptocurrency like ETH, reflecting confidence in Ethereum’s future price appreciation or utility. Such whale activity often influences retail sentiment and can signal potential price movements, making it a critical point of analysis for traders looking to capitalize on market trends. For those monitoring Ethereum trading strategies or meme coin volatility, this event highlights the interconnected nature of altcoin profits and major crypto assets, offering a glimpse into how large players manage their portfolios across different market segments. The timing of these transactions also coincides with a period of heightened volatility in the broader crypto market, as Bitcoin (BTC) hovered around 69,000 USD on June 3, 2025, 09:00 UTC, per data from major exchanges, potentially influencing whale decisions to secure gains in ETH as a safer bet.

From a trading perspective, this whale’s movement has several implications for both ETH and PEPE markets. The influx of 2,700 ETH, valued at 6.99 million USD as of June 3, 2025, 12:00 UTC, into a private wallet suggests reduced immediate selling pressure on Ethereum, as the tokens are no longer on an exchange ready for liquidation. This could provide a bullish signal for ETH traders, especially if other whales follow suit in accumulating ETH during this period. On the flip side, the complete exit from PEPE by this whale, realizing 6.86 million USD in profits on June 1, 2025, around 10:00 UTC, may indicate a lack of confidence in the meme coin’s short-term upside, potentially leading to bearish sentiment among retail investors. Traders focusing on PEPE should watch for declining trading volumes or increased sell-offs in the coming days, as whale exits often trigger cascading liquidations. Additionally, cross-market analysis shows that ETH/BTC trading pairs have seen a slight uptick in volume, with a 3.2 percent increase reported on major exchanges like Binance and Kraken between June 2, 2025, 15:00 UTC, and June 3, 2025, 15:00 UTC, suggesting growing interest in ETH as a hedge against Bitcoin’s volatility. For savvy traders, this presents an opportunity to monitor ETH/USD and ETH/BTC pairs for breakout patterns, particularly if whale accumulation continues to drive sentiment.

Diving into technical indicators and on-chain metrics, Ethereum’s price as of June 3, 2025, 14:00 UTC, stands at approximately 2,590 USD per ETH, with a 24-hour trading volume of over 15 billion USD across major exchanges, reflecting robust liquidity. On-chain data from prominent blockchain analytics platforms indicates a spike in large transactions (over 100,000 USD) for ETH, with a 12 percent increase in the past 24 hours as of June 3, 2025, 12:00 UTC, aligning with the whale’s 2,700 ETH withdrawal. The Relative Strength Index (RSI) for ETH sits at 58 on the daily chart, suggesting neither overbought nor oversold conditions, leaving room for potential upward momentum if buying pressure sustains. For PEPE, however, trading volume dropped by 8.5 percent in the last 48 hours as of June 3, 2025, 10:00 UTC, signaling fading interest post-whale exit. Market correlation data also reveals that ETH has maintained a strong positive correlation of 0.85 with BTC over the past week, indicating that broader market trends will likely influence ETH’s trajectory. Meanwhile, PEPE shows a weaker correlation of 0.32 with ETH, underscoring its speculative nature and susceptibility to whale-driven volatility. Traders should also note the institutional interest in ETH, as evidenced by a 5 percent uptick in ETH futures open interest on platforms like CME between June 1, 2025, 08:00 UTC, and June 3, 2025, 08:00 UTC, hinting at growing confidence from larger players. For those trading crypto markets in light of stock market correlations, it’s worth noting that the S&P 500 index rose by 0.7 percent on June 3, 2025, 13:00 UTC, which often correlates with risk-on sentiment in crypto markets, potentially supporting ETH’s price stability. Institutional money flow between stocks and crypto remains a key factor, as risk appetite in traditional markets often drives capital into assets like ETH during bullish phases.

In summary, while this whale activity doesn’t directly tie to stock market events, the broader risk-on sentiment in traditional markets could indirectly bolster ETH’s appeal as a safe haven within crypto. Traders looking for opportunities should focus on ETH’s accumulation zones around 2,500 USD to 2,600 USD as of June 3, 2025, 14:00 UTC, while keeping an eye on PEPE for potential short-selling setups if volumes continue to decline. Cross-market dynamics and institutional flows will remain critical in shaping the next moves for both assets.

FAQ Section:
What does the whale’s purchase of ETH with PEPE profits mean for Ethereum’s price?
The whale’s accumulation of 2,700 ETH, valued at 6.99 million USD as of June 3, 2025, 12:00 UTC, suggests reduced selling pressure on exchanges, which could be bullish for ETH’s price in the short term. If more whales follow this trend, it may drive upward momentum, especially with ETH’s RSI at a neutral 58 as of the same date.

Should traders sell PEPE after the whale’s exit?
The whale’s exit from PEPE with 6.86 million USD in profits on June 1, 2025, 10:00 UTC, combined with an 8.5 percent drop in trading volume as of June 3, 2025, 10:00 UTC, indicates weakening momentum. Traders might consider short positions or reducing exposure until clearer bullish signals emerge.