Longest Ethereum dip since 2022 ignored by whales as new inflows appear in Mutuum Finance
Ethereum is experiencing its longest weekly losing streak since 2022, with price pressure mounting as whale participation declines and liquidity tightens around key levels. While large-cap assets face renewed uncertainty, on-chain data also show selective capital movement into smaller DeFi protocols, including Mutuum Finance, reflecting uneven positioning across the market.
Ethereum records sixth consecutive weekly loss
Ether is currently in its sixth straight week of declines, marking its longest uninterrupted pullback since the 10-week downturn recorded in 2022. The asset has struggled to regain momentum, with sustained selling pressure keeping price action below key resistance zones.
Exchange data indicate a slowdown in large trader activity. Average whale-sized sell orders on Binance have dropped from around 2,250 ETH in early January to roughly 1,350 ETH in recent weeks. Over the past 45 days, an estimated 1.8 to 2 million ETH has been traded in large transactions. At average prices near $2,400, this represents approximately $4 billion to $5 billion in gross volume. Analysts note that the smaller order sizes suggest reduced direct engagement from larger participants rather than aggressive net selling.
Despite weaker order book depth, accumulation addresses have continued to add exposure. More than 2.5 million ETH were added to accumulation wallets in February, lifting total holdings from roughly 22 million ETH at the start of the year to about 26.7 million ETH. This indicates steady demand beneath the surface, even as price trends remain negative.
Derivatives positioning further defines the near-term outlook. Futures data show more than $2 billion in short positions clustered around the $2,000 level, creating a dense liquidity zone that could act as a short-term price magnet. On the downside, approximately $682 million in long positions would be at risk if ETH falls toward $1,600. Historical cycle data also point to a broader weekly demand zone between $1,384 and $1,691 should selling continue. For now, the $2,000 region remains the key resistance level analysts are monitoring.
Mutuum Finance (MUTM)
A new crypto project has reported additional inflows, bringing total funds raised to over $20.65 million. Recent on-chain data show transactions exceeding $100,000 in value, while approximately three weeks ago a single whale executed two transactions totaling 122 ETH into the project. The MUTM token is currently priced at $0.04, with a holder base exceeding 19,000.
On the product side, Mutuum Finance is developing a lending and borrowing protocol, with its V1 protocol already live on the Sepolia testnet. The team has also indicated that a new feature is expected to be introduced next week. The current core features available on testnet include:
- Liquidity pools – shared smart contract-based pools where users can supply assets to earn yield or borrow against available liquidity.
- mtTokens – tokens issued 1:1 when users deposit assets, representing proof of deposit and accruing interest over time.
- Debt tokens – tokens minted when users borrow, tracking the principal amount plus accumulated interest.
- Liquidator bot – an automated system that monitors collateral positions and triggers liquidation if risk thresholds are breached.
- Stability Factor – a risk metric that indicates how well-collateralized a borrowing position is.
In a recent update, the team stated that improvements to the Stability Factor are in development, alongside broader codebase optimizations.
Prior to the V1 protocol launch, the lending and borrowing smart contracts were audited by Halborn. In addition, the MUTM token smart contract underwent a separate audit by CertiK, according to the project’s disclosures.
Passive Income and Staking Rewards
While Mutuum Finance remains in its development phase, one of the core mechanisms already implemented is the mtToken structure.
In the current testnet version, users can mint available assets such as USDT, WBTC, LINK, and ETH. After minting these tokens, users can supply them into liquidity pools and observe how the passive income mechanism operates. Once supplied, users can also test the staking functionality. For example, by supplying WBTC, a user can stake the corresponding mtWBTC and observe how MUTM tokens would be distributed as dividends within the system once fully deployed.
Ethereum remains under pressure as its longest weekly losing streak since 2022 unfolds, with whale activity softening and key liquidity levels around $2,000 shaping the near-term outlook. At the same time, accumulation trends and concentrated derivatives positioning suggest that market structure remains contested rather than decisively bearish.
In parallel, development activity and capital inflows into DeFi protocols such as Mutuum Finance highlight uneven capital distribution across the sector. While large-cap assets consolidate under technical and macro strain, smaller projects continue advancing product development ahead of broader market stabilization.
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