$ETH Whales Return as Hayes Reverses Bearish Bet.
Arthur Hayes re-entered Ethereum, buying $7.93M after selling last week on expectations of a drop to $3,000. The price instead surged to $4,200, driven by whales and institutions buying over 1.035M ETH ($4.17B) since July, lifting prices 45% from $2,600 to $4,000.
Most of this accumulation came from U.S. funds and public companies. Low gas fees at $0.53—down from $8 in late 2024—are boosting on-chain activity and attracting retail traders, creating favorable conditions for further ETH gains.
