Ethereum whales have absorbed over 600K ETH in June alone, fueling a 122% price rally from $1,640 to $3,650.
Over $40M in mirrored ETH flows from Galaxy Digital to SharpLink point to structured OTC and treasury activity.
Staked ETH has hit 35.2 M, nearly 30% of supply, marking record validator demand despite market volatility.
Ethereum has reclaimed the $3,000 price mark, coinciding with a record inflow into accumulator wallets this June. Inflows have surged past 600,000 ETH, the highest levels recorded since July 2024.
Whales Accelerate Accumulation as Supply Thins
Ethereum's recent breakout from $1,640 to $3,650 reflects a 122% rally within six weeks. This uptrend was paired with aggressive accumulation by permanent holders, as seen in inflows exceeding 500,000 ETH across multiple days. According to a post by MerlijnTrader, whales are “absorbing everything” as supply shock pressure builds.
Throughout the rally, key addresses stepped in between $2,200 and $3,600, establishing a dense zone of absorption. These movements have shown remarkable consistency, with inflows intensifying on every local uptrend. Moreover, inflows peaked again as Ethereum crossed $2,800, triggering synchronized wallet activity across exchanges.
OTC Desk Activity Confirms Institutional Moves
OTC transfer data shows Galaxy Digital facilitated a 1.98K ETH transaction worth $4.82 million five hours ago. According to a report by Lookonchain, the ETH was routed through the address 0xCd9e09 before reaching SharpLink Gaming’s wallet. The same sequence has repeated multiple times over the past week.
https://twitter.com/lookonchain/status/1938789843448090959
Earlier transfers included 2.285K ETH ($5.52M), 3.704K ETH ($9.01M), and a peak transfer of 5.09K ETH ($12.27M) to SharpLink Gaming. Each transaction followed mirrored routing paths, reinforcing patterns of structured treasury movement. These coordinated flows now exceed $40 million in total within one week.
Staking Deposits Show Conviction in ETH2 Transition
In the last hour, wallet 0x1fc75 deposited 1.888K ETH ($4.56M) directly into the Ethereum Beacon Chain contract. This followed an identical inbound transfer from Binance’s hot wallet 0x497, just six minutes earlier. One week prior, the same wallet staked 3.2K ETH sourced from Binance, also valued at over $8 million.
This pattern of consistent ETH migration from Binance to validator contracts continues to align with large-scale staking behavior. Structured ETH deposits, mirrored by timing and amount, suggest institutional-level onboarding into Ethereum’s staking ecosystem.
Ethereum Staking Supply Reaches Historic High
Over 35.2 million ETH, or nearly 30% of Ethereum’s supply, is now staked as of June 2025. CryptoBusy noted that even during the downturn to $1,600, staked volumes rose steadily. That growth persisted through the cycle’s volatility, especially post-Shapella upgrade.
ETH's staking curve has shown zero plateaus, reflecting unwavering holder conviction. As staking reduces liquid supply, market sell pressure weakens, bolstering Ethereum’s long-term fundamentals and validator decentralization.
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