Ethereum whales accumulate $100M+ in ETH amid surge
4.3 Investments Ethereum whales acquired over 44,000 ETH worth $100M+, with one address buying 27,553 ETH for $62.97M and 16,658 ETH for $37.96M amid record network activity.
Recent on-chain data reveals a notable surge in Ethereum whale activity. A prominent address accumulated 27,553 ETH, valued at approximately $62.97 million, at an average price of $2,286 within five hours. Earlier, the same address spent $37.96 million USDC to acquire 16,658 ETH at an average price of $2,279 in just two hours. These significant purchases took place while Ethereum traded below $2,300, sparking speculation that the buyer aimed to time the market bottom. The transactions coincided with heightened network activity following a Binance security breach, which pushed Ethereum's daily transaction fees to a record $47.3 million. The size and speed of these acquisitions suggest possible institutional involvement and may signal a shift in market sentiment as large holders position themselves for a potential recovery. However, activity from a single wallet does not confirm a broader trend or guarantee that the price has bottomed.
