A major Ethereum whale has sparked market chatter after offloading 1,185 ETH worth $2.1 million to diversify into emerging altcoins. The transaction, identified by blockchain analytics firm Onchain Lens, occurred on May 2 and involved converting ETH to USDC before reallocating funds into AERO, AIXBT, and VIRTUAL.
This strategic shift into lesser-known altcoins comes amid a period of underperformance for Ethereum, which has struggled to gain momentum in recent weeks. Meanwhile, the whale’s activity has fueled price rallies in all three tokens, prompting heightened interest across trading communities.
Key transactions:
- 2.92 million AERO
- 3.34 million AIXBT
- 6,800 VIRTUAL
Shortly after, the whale swapped 2.44 million AERO for 996,566 VIRTUAL, increasing total VIRTUAL holdings to over 1 million tokens—a move that coincided with a notable price jump.
VIRTUAL Surges 100% in a Week
Among the three tokens, VIRTUAL has attracted the most attention. Its price surged to $1.64, marking a 100% weekly increase and over 2% daily gains. The dramatic rise suggests a bullish sentiment shift, likely amplified by the whale’s vote of confidence.
The altcoins involved have shown the following weekly performances:
- AIXBT: +57%, currently priced at $0.1938
- AERO: +16%, trading at $0.6658
These tokens are now on the radar of short-term speculators and long-term investors alike, with some viewing the whale’s portfolio move as a sign of growing market momentum beyond large-cap cryptos.
Ethereum Trails Behind in Weekly Gains
Ethereum, the world’s second-largest cryptocurrency by market cap, continues to lag behind in performance. While the broader market leans bullish, ETH has posted only a 3% weekly gain, hovering around $1,825 as of the latest data.
This underperformance comes as ETH whale sell-offs increase, according to a recent CoinGape report. As large investors rotate capital into more aggressive growth tokens, Ethereum’s near-term price action remains pressured.
Summary of Key Points:
- $2.1M in ETH sold by whale for altcoin diversification
- VIRTUAL gains 100% weekly; AIXBT and AERO also rally
- ETH up just 3% amid growing whale outflows
With sentiment clearly shifting, market watchers now question whether these altcoins can sustain their momentum—or if Ethereum will reclaim its leadership position.