Ether Slides 9% as Long-Term Holders Buy the Dip

Ethereum ETH $2 277 24h volatility: 5.2% Market cap: $275.53 B Vol. 24h: $57.49 B fell 9% to a daily low near $2,165 on Feb. 2 and erased more than $25 billion from its market cap in 24 hours.

At the time of writing, the cryptocurrency is trading around $2,227. The fall extends last week’s sell-off, with Ether now down 23% over the past seven days.

Despite the steep decline, on-chain data shows a clear split in behavior between institutional players reducing exposure and long-term holders stepping in to accumulate.

Bitmine is among the largest entities under pressure from the price drop. The firm holds about 4.24 million ETH acquired at an average price of $3,882, for a total cost of around $15.65 billion. At current prices, those holdings are valued near $9.54 billion.

This means the firm now bears over $6 billion in unrealized losses on its Ether holdings. Bitmine has continued to add ETH and expand its staking products.

Trend Research Sell-Offs

Trend Research has been actively reducing its ETH holdings amid the price drop, data shared by LookOnChain suggests.

On Feb. 2, the firm deposited another 20,000 ETH worth about $43.88 million into Binance.

Over the past 24 hours, Trend Research deposited a total of 53,589 ETH valued at more than $120 million, then withdrew 77.5 million USDT to repay outstanding loans on Aave AAVE $126.7 24h volatility: 0.4% Market cap: $1.93 B Vol. 24h: $582.74 M .

Despite these sell-offs, the firm still holds 418,045 ETH.

Ethereum OGs Accumulate

While some large holders sell, Ethereum OGs are aggressively buying the dip using looped borrowing strategies.

On-chain data reveals that two wallets that had remained inactive for five years recently became active.

Together, they deposited 44,490 ETH valued at $98.3 million into Aave, borrowed 104 million USDT, and used the funds to buy 45,319 ETH at an average price of $2,295.

Meanwhile, an OTC whale purchased 30,392 ETH worth about $70.12 million earlier on Feb. 2.

What’s Next for ETH?

The current sell-off triggered massive liquidations, with Jan. 31 marking one of the strongest capitulation events in four months.

Ethereum has broken below its 200-day simple moving average, a level that last failed in March 2025 before a rally from $1,600 to nearly $4,900.

Analysts note that the current price is a good buying opportunity with next key support around $1,850-$1,550.

Popular analyst Crypto Patel recently reiterated his long-term target of $10,000 for ETH.

Bitcoin Hyper Presale Raises $31M, Drawing Strong Investor Attention

As Ether remains under pressure, interest is shifting toward newer crypto projects such as Bitcoin Hyper (HYPER).

The project has already raised about $31.19 million during its ongoing presale as investors look for alternatives beyond top assets.

Bitcoin’s base network continues to face challenges like congestion and high fees. Bitcoin Hyper introduces a Layer 2 network that uses Solana SOL $102.9 24h volatility: 2.3% Market cap: $58.37 B Vol. 24h: $9.17 B based technology to improve transaction speed and reduce costs.

Tokenomics of Bitcoin Hyper

• Current Price: $0.013675

• Funds Raised So Far: $31M

• Staking APY: 38%

Transactions are processed through an off chain execution layer before settling on the Bitcoin BTC $77 534 24h volatility: 1.4% Market cap: $1.55 T Vol. 24h: $83.48 B network, aiming to balance efficiency with finality.

The ecosystem is powered by its native token, HYPER, which is used for transaction fees, staking, and access to network features. HYPER token is currently priced at $0.013675. Check out our guide on how to buy Bitcoin Hyper if you want to join the presale.

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