September’s market turbulence has rattled even the largest crypto holders, with a string of whale addresses caught panic-selling major tokens.
These whales’ actions crystallized multimillion-dollar losses as sentiment across Bitcoin, Ethereum, and altcoins soured earlier in the week.
Ethereum, HYPE, and PUMP Whales Capitulate
SponsoredCrypto markets whiplashed on Monday, with liquidations nearing the $1.7 billion mark. Coinglass highlighted this as the highest this year.
According to Glassnode, leverage was flushed, reflecting reduced speculative exposure. Traders often see this as a healthy reset to stabilize derivatives markets and lower the risk of forced liquidations.
However, on-chain tracker Lookonchain shows that some whales panicked and sold amid the Monday bloodbath.
Whale address 0x3c9E dumped 1,000 ETH tokens worth $4.19 million in yet another poorly timed trade. The address has reportedly earned a reputation for missteps, consistently buying ETH at elevated levels and selling into weakness.
“The ‘buy high, sell low’ whale 0x3c9E panic-sold 1,000 ETH ($4.19M) again… Over the past two months, this whale has always bought ETH at high prices and sold at lows,” Lookonchain wrote.
The repeated pattern illustrates how even whales can become trapped in cycles of fear and poor timing. It reflects the volatility that continues to plague traders, even beyond Ethereum.
Whale Dumps HYPE at a Loss
Sponsored SponsoredAnother whale address, 0x09D4, sold 56,569 HYPE tokens for $2.67 million at an average price of $47.23. The move locked in a $103,000 loss, as the whale had purchased the same tranche of tokens less than a month earlier for $2.77 million at $49 each.
As HYPE’s price slid into late September, the whale chose to exit rather than hold through the downturn, further contributing to the bearish pressure on the token.
PUMP Whale Loses Over Half a Million
SponsoredLosses extended beyond Ethereum and HYPE. Whale BV2gzZ liquidated a massive 307.27 million PUMP tokens, worth $1.73 million, at an average price of $0.00564.
The trade represented a $582,000 loss, as the whale bought the tokens nine days earlier at $0.00753 each.
The quick turnaround reflects the speculative nature of meme-driven tokens like PUMP, where fortunes can change in days and ill-timed entries can wipe out seven figures.
MrBeast Caught in the Downturn, Market Chaos Shakes Investor Confidence
Beyond anonymous whales, YouTube megastar MrBeast also felt the sting. The social media personality drew attention after backing Binance-linked DEX Aster, entering near the project’s peak.
Sponsored SponsoredSince then, however, Aster’s token has fallen 30%, with MrBeast’s entry serving as “the top signal,” before ASTER fell over the cliff.
The episode highlights how celebrity involvement, while boosting visibility, does not guarantee price support. This is especially true in volatile conditions where market cycles can turn swiftly against latecomers.
The flurry of whale liquidations coincides with broader September market weakness, as Bitcoin and altcoins have struggled to maintain momentum.
Large holders typically act as stabilizers during downturns, but the recent wave of panic selling shows that fear is spreading even to the top.
For smaller traders, the whale exodus may suggest that deep pockets do not always translate into smart money. Conducting one’s own research remains critical.
