Two Prime Abandons Ethereum For Bitcoin, Tags ETH As A Memecoin

Monicah W

Two Prime Abandons Ethereum For Bitcoin, Tags ETH As A Memecoin

Investment advisor Two Prime is ditching Ethereum over its memecoin-like behaviour and underwhelming price performance. The SEC-approved firm says it will double down on Bitcoin (BTC) while conducting a post-mortem on Ethereum.

Two Prime Drops Ethereum Over Memecoin Behaviour

SEC-approved investment advisor Two Prime has called it quits with Ethereum following a raft of negative fundamentals and on-chain metrics. According to a company statement, the derivatives firm will focus its attention on Bitcoin, cutting ties with Ethereum after six years.

The firm operated Two Prime Lending, rising to become the second-largest lender for ETH and BTC-backed loans. Rather than dabble in other cryptocurrency-backed loans, Two Prime stuck with BTC and ETH, given their deep liquidity for institutional action.

After enjoying modest success with Ethereum for six years, Two Prime says it is moving away to focus on BTC lending. The press release reeled out a laundry list of reasons behind the company’s decision to ditch Ethereum for Bitcoin.

“ETH’s statistical trading behaviour, value proposition, and community culture have failed beyond a point that is worth engaing,” read the statement. “The risk-reward is simply unjustifiable at this point with BTC available as an alternative.”

Right out of the bat, Two Prime says ETH behaves like a memecoin rather than a predictable asset. The report notes that ETH displayed “multi-standard deviation moves” following a de-correlation from Bitcoin in Q1 2025. The Ethereum-to-Bitcoin ratio has sunk to its five-year low given ETH’s underwhelming price performance in 2025.

A Raft Of Reasons Behind The Company’s Decision To Ditch ETH

Apart from its memecoin behaviour, Two Prime notes that the Ethereum price has not flashed any signals of a rebound after the slump. The firm notes that investors are not buying the dip, demonstrating a lack of apathy for the largest altcoin.

Two Prime notes that Bitcoin ETF inflows have surpassed ETH by nearly 24 times, signaling a decline in institutional interest. Furthermore, the firm points to a shoddy business model that allows Ethereum layer 2s to snag a chunk of its monetization.

Rising competition from Solana and other emerging blockchains is taking a large chunk of Ethereum’s market share. Two Prime argues that Ethereum suffers from strong leadership and is a victim of its early success, but has failed to change with the times. An expert has warned that Ethereum is in danger if it does not scale by 100X in the next five years.

“The existing scale of the asset and the remaining upside of global adoption make BTC a far better risk-weighte investmen than ETH,” read the statement.

Two Prime’s decision to offload its ETH holding has seen prices tumble by nearly 2% since the announcement. Previously, Galaxy Digital has offloaded a portion of its ETH holdings to accumulate SOL, adversely affecting price performance.

 

 

The post Two Prime Abandons Ethereum For Bitcoin, Tags ETH As A Memecoin appeared first on CoinGape.

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Crypto Whales Bought These Altcoins in the Fourth Week of April 2025

The crypto market has seen a notable uptick in activity this week, with total market capitalization rising by 10% over the past seven days. 

This surge reflects renewed investor interest, particularly among large holders, who have strategically accumulated select altcoins. 

Uniswap (UNI)

Uniswap’s governance token UNI is one of the tokens crypto whales bought this week. This is evidenced by its large holders’ netflow, up 492% over the past seven days. 

UNI Large Holders Netflow
UNI Large Holders Netflow. Source: IntoTheBlock

The large holders’ netflow measures the difference between the amount of tokens that whales buy and sell over a specified period. When it surges like this, it signals strong accumulation by whales, suggesting growing confidence or a bullish outlook on the asset.

If whale accumulation persists, UNI could extend its rally to $7.10. On the other hand, if demand leans, UNI could shed recent gains and fall to $4.60. 

MANTRA (OM)

OM’s recent price downturn has opened the door for strategic accumulation by some of its largest holders. According to on-chain data from Santiment, whale addresses holding between 10 million and 100 million OM tokens scooped up 26 million OM during the week under review.

OM Supply Distribution.
OM Supply Distribution. Source: Santiment

This accumulation trend follows a dramatic collapse in OM’s price on April 13. The token suffered a flash crash that erased over 90% of its value in less than an hour, wiping out more than $5.5 billion in market capitalization. 

The price plunge shook retail sentiment, but whales appear to have viewed it as a discounted entry point, positioning themselves for a potential recovery.

If this trend continues, OM could rally above $1. However, once selloffs resume, its price could fall to $0.022.

Worldcoin (WLD)

Sam Altman-linked WLD is another altcoin that crypto whales bought this week. On-chain data shows that whales holding between 1 million and 10 million tokens have acquired 13 million WLD over the past week.

WLD Supply Distribution
WLD Supply Distribution. Source: Santiment

This group of WLD investors holds 798.06 million tokens at press time, marking their highest recorded balance. If WLD whales increase their accumulation, its price could rally back above $1.

On the other hand, if selloffs continue, it could fall to $0.57.

The post Crypto Whales Bought These Altcoins in the Fourth Week of April 2025 appeared first on BeInCrypto.

Ethereum Price Eyes Rally To $3250 As Whales Accumulate $100M ETH

Ethereum Price Eyes Rally To $3250 As Whales Accumulate $100M ETH

The Ethereum price chart shows that it could hit the $3,250 level, even though the cryptocurrency has not been performing well recently in relation to Bitcoin and other assets. This technical setup appears as on-chain data shows that big-time investors are buying more.

Whale activity shows important ETH accumulation

On-chain analysis platform Lookonchain has observed significant Ethereum accumulation by whale accounts despite ETH’s price woes. According to their data, a wallet identified as 0xd81E withdrew 1,900 ETH (worth approximately $3.1 million) from the Gate exchange just hours ago.

This withdrawal appears to be part of a larger accumulation strategy, as the same address has withdrawn a total of 48,477 ETH (valued at $100.35 million) from the top crypto exchange since February 15. The wallet is currently sitting on an unrealized loss of around $21 million based on current prices.

In a separate transaction, Lookonchain reported that another whale address, 0x3bd2, withdrew 2,600 Ethereum (worth $4.26 million) from Binance after showing no activity for an entire year. This re-activation of inactive wallets to pull out ETH to personal wallets usually indicates optimism about future price appreciation.

But not all that has happened in the whales’ world is good. Analyst Ash Crypto mentioned in a tweet that one whale sold 2,056 ETH for $3.72 million and initiated a 10x leveraged short position in ETH. That shows conflicting sentiments from the large holders.

Ethereum price could be headed to $3,250

The Ethereum daily chart indicates a firm downtrend since late 2024, as ETH is registering lower highs and lower lows. Nevertheless, recent trade prices indicate a topping pattern can form. Analyst Crypto Fella has shared several key resistance levels now in focus for a possible recovery rally.

The chart identifies four major resistance zones that Ethereum would need to overcome to confirm a reversal. The first one is at approximately $1,750, followed by levels near $2,000, $2,500, and ultimately $3,250. These horizontal resistance bands represent previous support areas that have now flipped to resistance after being broken to the downside.

The analyst emphasized the importance of breaking the current resistance. He also stated that Ethereum price needs to break this resistance and mentioned that traders cannot ignore this opportunity. His analysis points to a potential target of $3,500 if a breakout occurs.

The technical setup shows a descending trendline that has contained price action since December 2024. A decisive break above this trendline, combined with reclaiming the $1,750 level, would provide the first technical confirmation of a trend change.

Despite the mixed analysis by several analysts, an analyst had predicted the Most Hated Rally for Ethereum earlier this month.

The post Ethereum Price Eyes Rally To $3250 As Whales Accumulate $100M ETH appeared first on CoinGape.