According to AMBCrypto, Ethereum whale wallets now control $365M in ETH, pushing market sentiment toward a bullish trend as accumulation intensifies.
With Ethereum trying to move above the $2,830 level, experts and investors are closely watching to see if this whale activity could push the ETH price up to $3,400.
Currently, Ethereum is trading point of around $2,603.83. The 24-hour trading volume is $17.04B, backed by a market cap of $314.34B
Galaxy Digital’s Massive OTC Transaction Draws Attention
According to the AMBCrypto report, Galaxy Digital has recently carried out a large-scale over-the-counter(OTC) trade, transferring 108,278 ETH, which is worth $283 million, to wallet address 0x0b26.
How Ethereum Whales Scoop $365M: ETH to Break $2,800 3
Now this wallet holds 139,476 ETH, valued at $365 million. Since the OTC trades usually happen privately, this move is likely to show a plan for long-term holding and not for short-term gains.
In addition, Galaxy Digital withdrew 89,000 ETH, which is worth $233.5 million, from the exchanges in just 12 hours. This strategic move shows growing confidence from institutions in Ethereum’s future.
On-Chain Trends Reveal Whales Tightening Their Grip
Data from IntoTheBlock shows that Ethereum whales have raised their holdings by 2.34% over the past 30 days. At the same time, investors’ wallets also grew by 4.12%, while the retail holdings dropped by 1.37%.
This redistribution of ETH supply from small traders to high-net-worth entities is usually seen before a major bullish run in the market.
Ethereum has seen a sharp rise in large transfers between $1 million and $10 million, rising by 143.47%, and transactions over $10 million soared by 285.71%, according to intoTheBlock.
On the other hand, micro transactions under $1 dropped a lot; this shows low interest from small traders, while Ethereum whales keep increasing their holdings.
Metrics Value Sources Current Price $2,607.47 CoinMarketCap 24h Trading Volume $18.04B CoinMarketCap Whale Accumulation $365M CoinMarketCap Whale Wallet Holdings 139,476 ETH Lookonchain Recent OTC Transaction 108,278 ETH Lookonchain Galaxy Digital Withdrawal 89,000 ETH Lookonchain Price Target Ahead $2,750, $3,000, $3,400 FXStreet & CoinDCX
Exchange Reserves Dip as Breakout Pressure Builds
Ethereum’s Exchange Reserves are still going down, with a recent drop of 0.34%. This usually means that tokens are being moved into cold storage or personal wallets, often by Ethereum whales, which lowers short-term selling and supports a long-term bullish view.
Meanwhile, liquidation heatmaps from CoinGlass reveal many short positions that are gathered between $2,700 and $2,830. If the ETH price moves above this level, then it might trigger S short Squeeze and push buying momentum even higher.
Bullish Technical Pattern Aligns with Whale Strategy
On the technical side, there is a cup-and-handle pattern forming on Ethereum’s daily chart, and $2,830 is acting as the neckline. If Ethereum breaks this pattern, the price may surge to $3,400, matching the scale of recent Ethereum whale buying activity.
How Ethereum Whales Scoop $365M: ETH to Break $2,800 4
This structure, once confirmed, usually signals a pause before the next upward move. With trading volume holding steady and data showing strong accumulation by Ethereum whales, the condition appears set for an ETH price surge.
Conclusion
All indicators are currently showing that Ethereum whales are getting ready for a big move in ETH price. They hold $365 million worth of ETH in private wallets, exchanges’ reserves are dropping, and a strong bullish pattern is forming.
If Ethereum breaks above $2,830, more buying could happen, but if it fails, then the price might pause. For now, Ethereum whales look sure about a price rise.
FAQs
1. How much ETH has the whale accumulated recently?
About $365 million worth of Ethereum.
2. Who made the recent large Ethereum transaction?
Galaxy Digital performed a high-value OTC swap with ETH.
3. How have whale ETH holdings changed recently?
Whale wallets gained 2.34% more ETH in just 30 days.
4. What does rising whale accumulation usually indicate?
Potential bullish market movement or price increase.
5. How have small trader ETH holdings changed?
Small traders are slowly stepping back, with a 1.37% drop in holdings.
Glossary
Ethereum- Digital money powering smart apps and online contracts.
Whale- A big crypto player holding massive amounts of coins.
Galaxy Digital- A crypto investment firm making big trades behind the scenes.
OTC- Secret crypto deals done away from public markets.
Retail Traders- Everyday people buying or selling small amounts of crypto.
Sources
AMBCrypto
Tronweekly
Blockchain news
NFTevening
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