Major holders of Ethereum (ETH) quietly bought around 394,682 ETH (≈ $1.37 billion) over the last three days, pointing to a shift in large-scale crypto investment behavior.
Key Takeaways:
- Whale addresses acquired approximately 394,682 ETH over a short three-day span, according to on-chain tracker Lookonchain.
- The largest single buyer reportedly bought about 257,543 ETH (~$896 million) at an average price of ~$3,480 per token.
- Although such whale accumulation often signals upward momentum for Ethereum network, the broader market holds steady and with minimal volatility.
In the last 3 days, several whales have increased their holdings of Ethereum significantly. According to the Lookonchain data publicized on its official X (formerly twitter) handle, around 394,682 ETH was bought by these whales over a three-day window. The largest individual accumulation among them was approximately 257,543 ETH, valued at ~$896 million at the time of purchase, at an average price of ~$3,480 per ETH.
Lookonchain data details major Ethereum addresses that acquired almost 400,000 ETH, totaling over $1.37 billion. Source: Lookonchain on X
This concentrated buying activity comes at a time when Ethereum’s price has been largely range-bound, suggesting that major investors may be positioning themselves for potential future gains. Historically, such whale accumulation can reduce the circulating supply of a crypto asset, which may create upward pressure on price if demand continues to rise.
Analysts See Whale Accumulation as Bullish Signal
While no named analysts were directly quoted in the source article, industry commentary indicates that experts consider this type of buying behavior a signal of long-term confidence in Ethereum. On-chain analysts suggest that when whales increase their holdings, it reflects faith in the network’s fundamentals, including its critical role in DeFi ecosystems and smart contracts infrastructure.
Further, this accumulation trend is interpreted as a potential precursor to market sentiment shifts. If institutional or high-net-worth investors are buying heavily, it can influence other market participants to follow suit, creating a self-reinforcing dynamic that supports Ethereum’s price over time.
ETH Holds Steady Amid Massive Whale Purchases
As of this writing (1:15AM UTC), ETH is trading at approximately $3,362.84, reflecting a modest gain of 0.8% over the past 24 hours. The token peaked intraday highs near $3,475.74 and intraday lows around $3,326.02 as per CoinGecko, reflecting a sideways price movement and minimal volatility in the day.
Despite the large inflows from whales, ETH has not experienced a dramatic breakout, remaining below key resistance levels near $3,800–$4,000.
Whale Moves Could Squeeze Supply and Boost ETH
Large-scale whale purchases often lead to decreased available supply on exchanges, a dynamic that can amplify price movements if market demand rises. In Ethereum’s case, these transactions may tighten supply in the short term, potentially setting the stage for stronger price performance.
This is particularly relevant for investors focused on crypto portfolios and long-term strategies, as such moves reflect confidence in Ethereum’s sustained utility and market dominance. Reduced circulating supply, combined with continued adoption in DeFi projects and institutional interest, could signal a favorable environment for ETH.
What’s Next?
The recent surge in whale buying suggests growing optimism about Ethereum’s long-term prospects. If accumulation continues and exchange balances decline further, ETH could gain the momentum needed to test resistance near $4,000.
However, despite appearing to be a bullish trigger, Ethereum’s price remains within its range in recent days, and broader market sentiment still hinges on macro trends and Bitcoin’s direction. For now, whale activity reinforces Ethereum’s standing as a core asset in the crypto market stays steady, resilient, and watched closely by traders anticipating the next move.
Summary
Major Ethereum holders accumulated roughly 394,682 ETH (~$1.37B) over three days, a concentration of buying that could tighten supply and create upward pressure on ETH if demand persists.
