Ethereum: "The Big Whales" Continue Buying Despite Weekend Drop

Ethereum whales continued to purchase the cryptocurrency in large quantities, according to chain analysts, coinciding with ETH's recovery from the weekend decline.

Blockchain analysis firm Arkham Intelligence said on Sunday: "Someone is buying massive amounts of Ethereum," referring to one address that bought $300 million worth of Ethereum through over-the-counter (OTC) deals at Galaxy.

The address currently holds 79,461 Ethereum, valued at approximately $282.5 million.

BlackRock has also intensified its purchases, as its iShares Ethereum Trust experienced inflows of $1.7 billion over the last ten consecutive trading days.

Ethereum holdings in exchange-traded funds have surged vertically over the past month, recording growth of more than 40% over 30 days, according to Dune data.