Crypto: Ether Slips Below $2k As ETH Holder Confidence Faces Major Stress Test

Ether is testing holder conviction with its price dip, with data showing continued selling by smaller holders and steady accumulation by larger investors.

Ethereum’s native token, Ether (ETH), dropped to a year-to-date low of $1,927 on Thursday, and is currently down more than 60% from its all-time high of $4,950.

Analysts said the decline is stress-testing holders’ conviction, and onchain and crypto exchange inflow data point to the start of a bear market. Despite the selling intensity, one group of Ether holders has been buying, but whether this will help ETH reclaim $2,000 is to be determined.

Mid-sized holders (100–10,000 ETH) reduced their holdings, signaling a capitulation phase.

Large holders (10,000-plus ETH) have increased exposure during the last quarter, absorbing sell pressure for the altcoin.

ETH is trading below the realized price for all investor cohorts, and the rising exchange inflows keep downside risk elevated.

Over the past five months, the Ether balance-by-holder-value data shows a clear change in behavior across different wallet sizes.

The metric clarifies which investors are absorbing downside pressure and which are exiting as prices return to May 2025 levels.

Data from CryptoQuant noted that on August 18, 2025, wallets holding 100–1,000 ETH controlled 9.79 million ETH, 1,000–10,000 held 14.51 million ETH, 10,000–100,000 held 17.18 million ETH, and 100,000-plus wallets held 2.75 million ETH.

On Wednesday, the balances of the 100–1,000 and 1,000–10,000 cohorts fell to 8.32 million ETH and 12.26 million ETH, respectively.

Source: CoinTelegraph