Whales Are Waking Up — $1.7 Billion in ETH Quietly Accumulated by Fresh Wallets

Over the past few days, a quiet accumulation story has been unfolding — and it’s not your average whale tale. Fresh wallets, many of them newly created and without prior history, have suddenly started loading up on Ethereum in serious size. And this isn’t a few hundred or even a few thousand ETH — this is over 466,000 ETH, worth nearly $1.7 billion, flowing off exchanges and into deep pockets.

It all started with wallet 0x8eEafEF1a3c7C158aA0b3b75bDEa965bFBa3Eb7d, which has received a massive 138,345 ETH ($505M) from FalconX in just the past 5 days. Then came 0x96842FeaF466Ab482E700aCAC5c80e61b97E06eA, which has taken in 122,691 ETH ($448M) via FalconX over 13 days.

But it didn’t stop there.

Wallet 0x35fbaD7C85A99938Bf8F7634859Dd0c7D59e48d4 quietly withdrew 103,274 ETH ($377M) from Kraken in the last 15 days. Around the same time, wallet 0x3dF3D9f948A0684e472fb633bb556F98fc5A6E3E pulled in 43,787 ETH ($160M) from Galaxy Digital.

Other fresh wallets joined the action:

0xD47954CEdA52046eDc40d3bE5EAf164839f133c0 — 32,902 ETH ($120M) withdrawn from Kraken

0xf87757c95d8D98E12a9a7F94265B9dceca8DEbF0 — 12,913 ETH ($47M) withdrawn from Kraken

0x6A955C288B7b355c1EAe2F1ED1aD8a2a0f48eb1E — 12,341 ETH ($45M) withdrawn from Kraken

And just today, another 40,591 ETH ($148M) has been added across these fresh wallets.

All signs point to coordinated, high-conviction buying — and these aren’t degen traders. These are whales, likely institutional players or large private funds, taking positions with patience and size. Whether this is a lead-up to a major market move or simply early signs of smart money reallocating into ETH, the message is clear:

They’re not just buying — they’re preparing. Quietly, and with billions.