Over the weekend of August 2–3, 2025, Ethereum (ETH) experienced a sharp pullback, losing between 10–13%, with prices briefly dropping below $3,400 due to pressure from a strong U.S. dollar and weak U.S. jobs data.

Despite the decline, on‑chain analytics point to mega‑whale
accumulation by major whales and institutional players:

  • A single whale is reported to have spent ~$300 million acquiring ETH via Galaxy
    Digital’s OTC desk, adding roughly 79,000 ETH—down ~8.7% in value, but
    clearly a long‑term strategic play

  • Another address, tied to Ethereum‑focused firm SharpLink, bought an additional 30,755 ETH (~$108 million) across just two days, now holding over 480,000 ETH in total

  • Combined, whale wallets have spent over $400 million accumulating ETH during the
    recent dip—a sign of deep conviction in the digital asset’s long‑term
    outlook

What It Means:

  • The whale activity suggests strong institutional interest and belief in
    Ethereum’s long‑run fundamentals, despite the current volatility.

  • Macro and technical indicators may remain bearish in the short term, but strategic
    accumulation could underpin a resilient recovery.

  • Social sentiment has increasingly shifted toward “greed” after the dip, as
    measured by sentiment indices

  • Public figures such as Eric Trump also encouraged investors to “buy the dip” on
    Ethereum (and Bitcoin) amid the pullback

In short: while ETH’s short‑term indicators show weakness, whales
and institutions are doubling down, treating the dip as an entry point. If
accumulation continues, it could set the stage for a rebound—possibly toward
the $3,800–4,000 area or higher, depending on broader market catalysts.

So what do they know that we don’t? Most likely these:

✅
Regulation is getting clearer

✅
ETH ETFs are coming

✅
Ethereum is becoming core infrastructure

✅
Retail will rush in later—they’re just early


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