Ethereum whales are accumulating ETH at an unprecedented pace since 2017. This situation indicates a resurgence of investor confidence towards the leading smart contract platform, alongside potential changes in market structure.
Large wallets holding between 1,000 and 10,000 ETH made the most significant whale purchases of the year by adding 871,000 ETH in a single day, marking a notable increase in accumulation activity.
According to Glassnode data, these large investors now hold 27% of Ethereum's total circulating supply. Historically, these levels are considered a concentration indicator that emerges before significant price movements.
Accumulation of Ethereum Whales is Accelerating, Resembling the 2017 Market
In June 2025, Ethereum experienced an extraordinary increase in the amount of ETH in whale wallets. Large investors significantly increased their assets, initiating the highest accumulation process since the 2017 bull run. Over the last seven days, these whales' daily purchases consistently exceeded 800,000 ETH, bringing total accumulations to 14.3 million ETH. This corresponds to approximately 27% of Ethereum's total supply, indicating that the influence of whales on the market is strengthening.
Market Impacts: Whales are Buying While Prices Remain Stable
Despite this large accumulation, the price of Ethereum is hovering around $2,548 and facing resistance at $2,700. Technical indicators have shown a sideways movement since the beginning of May. The Relative Strength Index (RSI) is at 54; this indicates that buying and selling powers are balanced. However, the continuous buying by whales contradicts the overall indecisiveness of the market and could herald a strong price movement in the near future. Experts state that these whales are strengthening their positions as they await upcoming network updates and increased institutional interest.
Strong Growth in the Ethereum Ecosystem Supports Whale Confidence
In addition to savings, the Ethereum ecosystem continues to grow. The amount of staked ETH has exceeded 35 million, setting new records and demonstrating investors' long-term commitment. The amount of ETH in non-selling wallets has also reached an all-time high of 22.8 million. While USDC transactions on Layer 2 solutions like Arbitrum and Optimism have seen significant increases, whale transactions in Ethereum Name Service (ENS) surged over 300% at the beginning of June. Additionally, whale participation in lending protocols has also increased significantly; this indicates a diversification of interactions on the network.
Strategic Moves of Whales Before Protocol Updates and Institutional Interest
Market experts view this accumulation process by whales as a strategic positioning ahead of critical developments in the Ethereum ecosystem. Upcoming scalability and performance improvements are triggering this activity combined with an increase in institutional investor interest. Glassnode data shows that similar accumulations have historically been harbingers of bull markets; this confirms that whales have positive expectations about the future of Ethereum.
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