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ETH drops 0.43% in 15 minutes: Major addresses reduce holdings combined with concentrated fund transfers trigger short-term selling pressure
From 13:30 to 13:45 (UTC) on May 7, 2026, ETH saw a return of -0.43% within a 15-minute window. The price ranged from 2315.28 to 2325.2 USDT, with an amplitude of 0.43%. The market experienced a rapid short-term pullback, and sell pressure became clearly stronger.
The main driver behind this price move was a sudden change in on-chain capital flows. Data shows that during this window, ETH saw a concentrated inflow into exchanges. Large-cap primary addresses (whale addresses) exhibited sell-off behavior. On-chain transfer records indicate that some major holders transferred ETH to trading platforms to sell. The direction of capital flows aligned with the downward move in price, and the sell pressure directly weighed on the price.
In addition, fluctuations in confidence in the DeFi ecosystem were a secondary factor behind this decline. Recently, Aster DEX was delisted by mainstream data platform Delist due to suspected wash trading/volume manipulation, triggering market concerns about transparency and liquidity in DeFi data. Although the direct impact was on the ASTER token, it indirectly shook confidence across the broader Ethereum ecosystem. Some investors chose to reduce their risk exposure and take a wait-and-see approach. Meanwhile, although the April 27 event—when the Ethereum Foundation unlocked and transferred approximately 49 million US dollars worth of ETH—did not occur within this window, it had a delayed negative impact on market confidence, further amplifying short-term selling sentiment.
Currently, the on-chain network is operating normally, and there are no abnormal fluctuations in Gas fees, ruling out technical congestion or extreme liquidation factors. Going forward, it will be important to focus on the flow of funds from major addresses, changes in net ETH inflow/outflow on exchanges, and the evolution of risk events in the DeFi ecosystem. Short-term volatility risk remains, and it is recommended to monitor key support levels and on-chain capital movements.