Ethereum price rebounds above $2,800 after whale accumulation
Over $358M in ETH bought by 7 large wallets in 24 hours
Institutional players move ETH from exchanges to private wallets
Ethereum has staged a strong comeback, surging past the $2,800 mark, driven by notable whale activity. In the past 24 hours alone, seven major players—ranging from institutional investors to anonymous whales—have acquired a staggering 127,971 ETH worth around $358 million. This surge in Ethereum whale activity suggests increasing confidence in the asset’s short-term potential.
One of the most significant movements came from a newly created wallet, 0x35fb, which withdrew 54,125 ETH (valued at $151 million) from Kraken in the last 16 hours. This single transaction accounts for nearly 42% of the total ETH acquired by whales in the past day.
Institutional Players Lead the Way
Hedge fund Abraxas Capital also made waves by moving 40,986 ETH ($114 million) from Binance and Kraken, likely into cold storage—signaling long-term holding intentions. Meanwhile, SharpLink Gaming, a known institutional holder of over 205,000 ETH, added another 5,072 ETH ($13.51 million) via an over-the-counter (OTC) transaction.
These strategic buys align with a broader trend of institutions consolidating their crypto positions, perhaps in preparation for a potential bullish run. In total, the institutional and whale movements over the past day have significantly contributed to Ethereum’s price action.
Ethereum broke back above $2,800 today!
In the past 24 hours, 7 whales/institutions have bought 127,971 $ETH($358M).
Newly created wallet 0x35fb withdrew 54,125 $ETH($151M) from #Kraken in the past 16 hours.https://t.co/5e6AQjMOwt
Abraxas Capital withdrew 40,986 $ETH($114M)… pic.twitter.com/0pmcvZxK7S
— Lookonchain (@lookonchain) July 10, 2025
Smart Money Makes Strategic Moves
Retail may be cautious, but smart money isn’t. The GMX hacker wallet recently consolidated $32M worth of assets into 11,700 ETH, showing confidence in Ethereum’s liquidity and utility. Other whale wallets, such as 0x8C08 and pfm.eth, spent $25M and $8M USDT respectively to buy ETH at average prices between $2,721 and $2,759.
Another whale, 0x3c9E, moved 4,000 ETH from Kraken into DeFi platforms like Aave and Compound, possibly aiming to earn passive yield while holding.
This series of large-scale movements reveals not just accumulation, but strategic positioning—potentially ahead of a broader rally or favorable macro developments in the crypto space.
Read also:
Ethereum Whale Activity Surges as Price Hits $2,800+
BlockDAG’s X1 Mining App Reaches 2M Users as SHIB Burn Rate Climbs & Celestia Price Moves Up
88.5M BTC Short Liquidated in One Order on HTX
$2.9M Raised And Counting—Arctic Pablo Coin Is The Sleeper Hit Of This Cycle Amid Dogecoin And Dogs Gaining Momentum
46% of Traders See Bitcoin Hitting $120K in July
The post Ethereum Whale Activity Surges as Price Hits $2,800+ appeared first on CoinoMedia.
