Ethereum whale wallets saw record accumulation in June, adding over 800,000 ETH daily as prices rebounded toward $3,400.
Whale transactions and open interest have surged steadily from March to July 2025, signaling renewed institutional confidence in ETH.
Wallet 0x17E0 lost nearly $6.9M after buying ETH back at higher prices, showing poor timing amid broader smart money accumulation.
Ethereum’s on-chain dynamics are shifting in 2025. Whale transactions and open interest levels are climbing fast, hinting at institutional re-engagement. As per Lookonchain, Wallet 0x17E0, previously linked to hacker activity, sold 12,282 ETH at $1,932 three months ago. Recently, it bought back only 4,958 ETH at $2,495, losing nearly $6.9 million. Whale wallet behaviors are now aligned with accelerating open interest and accumulation, signaling strategic moves by large holders as Ethereum builds momentum.
Whale Transactions Fuel Market Momentum
From January to July 2025, Ethereum’s network data reflects consistent whale activity. January peaked with 4,800 daily transactions exceeding $100,000. These red bar spikes represent strong sell-side or repositioning movements. However, by late January, transactions dropped sharply to around 1,000 daily, showing a sudden slowdown.
Source: Santiment
February stabilized with 500 to 2,000 whale transactions per day. The yellow open interest line remained flat, revealing low market conviction. March disrupted this calm. Whale transactions surged to 3,500 on multiple occasions. Open interest started rising as volatility returned.
In April, activity intensified. Mid-month whale moves exceeded 3,000 daily, mirroring open interest growth. These synchronized metrics suggested capital positioning rather than random trades. May presented mixed signals, but open interest kept climbing. It revealed building derivative demand despite moderate whale activity.
June marked a pivotal shift. Open interest jumped past 4,000 while whale transactions stayed above 1,000. Early July shows this trend continuing, indicating strong participation from institutional players and speculators alike.
Smart Money Returns With Record Accumulation
Meanwhile, whale wallets holding 1,000 to 10,000 ETH displayed historic net position changes. From December 2024 to June 2025, these addresses shifted strategies. ETH price dropped from $4,000 in December to $2,000 by mid-March.
Source: Merlijn The Trader
Despite this decline, whales accumulated over 500,000 ETH daily in January. They sustained their holdings even as prices tumbled. March saw net distribution over -100,000 ETH, marking exit moves at local bottoms.
However, June reversed everything. Whales added over 800,000 ETH daily. Their holdings grew to 14.6 million ETH. The price rebounded to $3,400, showing this accumulation had strong conviction behind it.
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