#ETH #ADA #BTC Ethereum Whales Buy the Dip as On-Chain Activity Surges

In early August, two major Ethereum investors took advantage of the price dip, buying over $400 million worth of ETH — signaling strong long-term confidence.

A wallet using Galaxy Digital’s OTC desk bought $300 million in ETH. Though currently facing a $26 million unrealized loss, the size and speed of the purchase suggest a strategic long-term accumulation.

SharpLink, an Ethereum-focused firm, added 30,755 ETH (~$108.5 million at $3,530) to its holdings. The firm now holds 480,031 ETH, valued at about $1.65 billion.

These buys came as ETH dropped to $3,300, but the price has since rebounded to around $3555

On-chain activity is rising sharply:

Ethereum recorded 931,000 active addresses in a single day, the highest in nearly 2 years.

Experts view this as a bullish signal, backed by ETF growth, institutional interest, and DeFi expansion.

According to Fundstrat’s Thomas Lee, if Ethereum remains Wall Street’s top smart contract platform, its price could eventually soar to $60,000.