Institutional high-net-worth individuals transferred approximately 295,861 ETH, valued at $1.19 billion, from major custodians to self-custody wallets, signaling renewed confidence in Ethereum despite recent market turbulence.
Key Takeaways:
- 11 Ethereum wallets received a total of 295,861 ETH, worth $1.19 billion, from custodians including Kraken, Galaxy Digital OTC, BitGo, and FalconX.
- The largest single transfer was 41,039 ETH (~$165 million) from FalconX to a single address.
- Accumulation occurred amid a market downturn where ETH briefly dipped below $4,000, triggering notable liquidations.
Earlier today, September 25, 2025, blockchain analytics firm Lookonchain has flagged eleven Ethereum wallet transfers, where it received a combined total of 295,861 ETH, currently valued around $1.19 billion. These transfers originated from major custodians, including Kraken, Galaxy Digital OTC, BitGo, and FalconX, indicating significant institutional and whale activity in the Ethereum market. Lookonchain confirmed the transaction through an X (formerly Twitter) post, updating the total number of accumulating whales to 11 wallets.
According to a Cryptopolitan report, the largest single transfer was 41,039 ETH (~$165 million) from FalconX to a single address. Other notable transfers included 31,117 ETH (~$125.4 million), 22,100 ETH (~$89 million), and 22,094 ETH (~$89 million), all traced back to Kraken. Additionally, BitGo and Galaxy Digital OTC contributed 18,564 ETH (~$71.4 million) and 31,450 ETH (~$126.7 million), respectively.
Whale Activity Amid ETH Price Correction
Despite the massive accumulation of the token, today’s session sees more of price correction particularly in Ethereum. For the first time in seven weeks, ETH dived back to the $3K mark, which in turn lead to massive liquidations. Lookonchain was also able to capture such significant loss, where a whale with address 0xa523 had a leveraged long position of 9,152 ETH liquidated, resulting in over $45 million in losses.
On the other hand, the large-scale accumulation by institutional wallets suggests a bullish outlook for Ethereum looking at medium and long term period. Moving ETH off exchanges to private wallets reduces circulating supply, and analysts believe that it could put upward pressure to the price.
ETH Under Pressure Despite Whale Accumulation
The token’s price action today reflects volatility and downward pressure. As of this writing (12:45PM UTC), ETH is trading at approximately $3,995.45, down 4.7% over the past 24 hours where went it as low as $3,975.93, while intraday highs were seen near $4,199.55.
Technicals, however, lean on the bearish. The 14-day RSI is ~34.4, signaling weak momentum, and most moving averages and oscillators are flashing sell, ****which is a sign of prevailing downward pressure.
In spite this technical weakness, the large-scale accumulation by institutional and whale wallets continues to stand out. The contrast between on-chain demand and weak price action suggests that longer-term holders see value even in turbulent times.
What’s Next for ETH?
The recent accumulation of 295,861 ETH by institutional wallets emphasizes a strong belief and confidence in Ethereum's future value, despite of the current, short-term market volatility. While the market experienced a brief downturn, the sustained interest from large holders suggests a bullish outlook for Ethereum in the coming months. Investors and market participants will be closely monitoring these developments to gauge the potential impact on Ethereum's price trajectory.
Summary
Eleven wallets accumulated ~295,861 ETH (~$1.19B) from major custodians during a volatile session where ETH briefly dipped below $4,000. Despite bearish technicals and liquidation events, the shift of coins to self-custody hints at longer-term confidence and potential supply tightening.
