Ethereum Whales Go On Buying Spree Amid Crash To $4,200, Here’s How Much They Bought

Ethereum’s recent movements have brought mixed emotions to the market, with a recent price crash to $4,200. While the market navigates these price swings, large holders of ETH, commonly referred to as ‘whales,’ have taken the opportunity to increase their positions ￰0￱ data from on-chain analytic firms suggest that accumulation among these heavyweight investors is intensifying, even as Ethereum experiences market ￰1￱ Whale Accumulation Accelerates According to reports from Santiment, Ethereum’s recent climb toward the $4,500 mark is being largely fueled by accumulation from whales and sharks in the millionaire and small billionaire ￰2￱ wallets, holding between 1,000 and 100,000 ETH, have been steadily boosting their ￰3￱ the last five months, their collective holdings have surged by a whopping 14%, a substantial shift in distribution that highlights renewed confidence in ETH’s long-term ￰4￱ Reading: Ethereum Price Stuck In ‘Loading Phase’, What This Means For The Campaign For $5,000 Supporting this trend, Glassnode data reveals a divergence in whale activity throughout August.

“Mega whales” reportedly holding more than 10,000 ETH were instrumental in driving Ethereum’s rally earlier in the month, with net inflows reaching an impressive 2.2 million ETH in 30 days. However, this group has since slowed down its activity, pausing further accumulation for ￰5￱ contrast, the large whales holding between 1,000 and 10,000 ETH have re-entered accumulation ￰6￱ a period of distribution, this group added 411,000 ETH within the same timeframe, suggesting they see the current price levels as an attractive entry ￰7￱ shift in accumulation dynamics underscores the complex layers of market sentiment within the Ethereum investor ￰8￱ mega whales have opted for caution after aggressively buying, the less prominent whales are taking up the slack, underscoring growing confidence despite broader ￰9￱ Slowly Recovers From $4,200 Price Crash The increase in whale holdings comes against the backdrop of Ethereum’s brief crash to $4,200.

Despite the sudden drop, ETH has since managed to rebound above $4,380, displaying a level of resilience that continues to attract ￰10￱ data shows that the Ethereum price saw a slight increase of 1.41% in the last week and over 21% over the last ￰11￱ Reading: Analyst Says 4-Year Cycle Ended In Dec 2024, But Ethereum Remains Insanely Bullish However, analysts remain cautious about the cryptocurrency’s near-term ￰12￱ crypto market analyst ￰13￱ has pointed out in a recent X social media post that Ethereum appears to be entering a minor distribution phase after losing the 1D 25EMA support ￰14￱ whales have helped in the altcoin’s recovery, he cautions that ETH could still face more turbulence before stabilizing ￰15￱ to the analyst, the broader altcoin market has also shown signs of weakness, amplifying concerns of an extended correction ￰16￱ several altcoins already underperforming, he suggests that a minimum decline of 20% across the sector looks increasingly ￰17￱ image from Getty Images, chart from ￰18￱