Ethereum’s price has been under immense pressure lately as major players like Trend Research rushed to liquidate their ETH holdings. In fact, ETH has dropped by over 60% since its October all-time high, with January to February marking its worst decline.
Ethereum even fell below $2,000, which intensified market concerns. As liquidation zones tightened, the question became whether the market could absorb the surge in selling or if further losses may be on the horizon.
A rush to sell ETH?
Trend Research accelerated its Ethereum [ETH] sales to meet loan repayments on 6 February 2026, offloading 170,033 ETH ($322.5 million) in just 10 hours. Despite this, they still hold 293,121 ETH ($563 million).
Their liquidation prices soon tightened, now between $1,562 and $1,698, due to their leveraged positions in Aave. With an average entry price above $3,000, the firm found itself under pressure.
What prompted this rapid selling?
Over the last few days, Trend Research had deposited large ETH batches into Binance, using the proceeds to pay down their Aave loans. This strategy added considerable sell-side pressure, worsening market momentum. As they neared critical health factor thresholds, the urgency of their actions increased.
With $563 million in ETH still at risk, further price drops could trigger more sales and additional volatility. Hence, the question – Were their efforts enough to avoid liquidation, or would they have to sell more?
Are whales under pressure?
Tension has been mounting for Ethereum’s largest holders of late. For example – Joseph Lubin, alongside two unknown whales and “7 Siblings,” are dangerously close to their liquidation zones. Lubin, with over 137,000 ETH, faces liquidation prices as low as $1,329. “7 Siblings” holds nearly 287,000 ETH, with liquidation levels at $1,029.
If Ethereum’s price falls further, these massive positions could lead to forced selling, which would amplify the market’s downward pressure.
Will the market absorb the selling surge?
At the time of writing, Ethereum was trading at $1,930, having lost the $2,200 range. At this price level, Ethereum is pretty close to the crucial $1,400-accumulation zone. Bulls must defend this level with sheer determination. Especially since momentum indicators like the MACD and RSI revealed extreme weakness, with Ethereum sitting in oversold conditions – Levels not seen since 2024.
This massive sell-off, driven by both whales and retail investors, is understandably fueling concerns. The question remains – Will the market be able to absorb the massive sales from these whales? Is this the last buy opportunity before Ethereum’s potential expansion to $10,000?
Final Thoughts
- Trend Research’s sell-off could trigger further downward momentum if ETH fails to hold key levels.
- Ethereum’s survival depends on whether the market can absorb this massive selling pressure.
