Listen, something interesting is happening with Ethereum. The market doesn't seem to be moving much — ETH is trading around $3,682, and trading activity has even dropped (volumes have dropped by 17%). But at the same time, while most are just watching, whales and large companies are buying up ETH for hundreds of millions of dollars. And they do it with clear confidence.
Here is the data from Lookonchain and Onchain Lens: one new wallet with the address 0x8eEa has purchased 105,977 ETH in the last 4 days. That's about $397 million. In just one day, 33,644 ETH was purchased through the over-the-counter FalconX platform. Such transactions are specifically carried out outside exchanges in order not to move the price, which means that these are serious players who care about scale, not speculation.
Another wallet is also not far behind — he bought 32,640 ETH for $ 122 million, bringing his total assets to $163 million. And now about SharpLink Gaming, a company that is already being compared to MicroStrategy, only in the context of Ethereum. She has increased her ETH reserves by almost 30% over the past week, to 360,807 ETH. That's almost half a billion at current prices.
At the same time, the price of ETH is not growing much. Only +0.9% per day. Why is that? Most likely, a consolidation phase is underway now — ETH has already grown by 35% recently and is now simply "digesting" this growth. It is holding above the key support at $3,650, and analysts believe that if this level does not hold, a pullback to 3,300 is possible. But if he holds on, he can go for a repeat test of 4000.
But traders don't really believe in growth yet — data from CoinGlass shows that $589 million in shorts is concentrated at the level of $3,768.9, and $290 million in longs is concentrated around $3,359.7. In other words, the market sentiment is rather bearish, despite the active purchases of major players.
And here's the intrigue: while most are waiting or afraid to enter, large investors are confidently accumulating ETH. They are either preparing for long-term growth, or they see an opportunity that others have not noticed yet.
Do you think this is just a cold-blooded calculation for the future or a signal that something serious is about to happen in the market?
