Ethereum News Today: "Ethereum Whale Awakens: $80M 8-Year Sleeper Wakes, Fueling Institutional Confidence Surge"

A suspected Ethereum (ETH) whale linked to the Ethereum Initial Coin Offering (ICO) has reignited activity after an eight-year dormancy, transferring 20,000 ETH—valued at $80.48 million at current prices—into Kraken, sparking speculation about institutional interest in the cryptocurrency. The wallet, which had been inactive since 2017, was initially funded with ETH acquired at $6,200 per token, representing a 12,971x return for the holder. The movement marks the first significant transaction from this address since its ICO-era acquisition, according to a Yahoo Finance report.

The transfer coincides with a broader surge in Ethereum's institutional appeal. Recent data shows increased inflows into crypto exchanges, with Ethereum outpacing Bitcoin in accumulation metrics. Analysts attribute this trend to Ethereum's ongoing upgrades and its dominance in decentralized finance (DeFi) and smart contract ecosystems. Ted Pillows, a prominent market analyst, noted that Ethereum's price action—a 2.62% dip to $4,019.11 in 24 hours—reflects a "strong bounceback" pattern, with key resistance levels near $4,250 and $4,300 potentially within reach, Yahoo Finance reported.

Meanwhile, another major player has amplified bullish sentiment. A crypto whale, identified as 0xc2a3, has aggressively added to Bitcoin (BTC) and Ethereum positions, accumulating 1,683 BTC ($194 million) and 40,305 ETH ($168 million) with 100% profitability across all trades. The trader, leveraging 10x and 5x positions, has generated $13.4 million in unrealized gains, with Bitcoin's average entry price at $110,680 and Ethereum's at $3,929, according to a Benzinga report. Recent limit orders to add more BTC longs in the $114,206–$114,527 range further underscore confidence in the asset's trajectory.

The whale's strategy highlights a broader trend of institutional and high-net-worth investors capitalizing on volatile markets. According to Lookonchain, the trader's Bitcoin position is supported by $111,160 as a critical level, while Ethereum faces a key resistance at $4,250. Analysts like Ali Martinez and Posty caution that patience is warranted, as Ethereum's retest of $4,075 could signal further consolidation before a potential breakout, Benzinga reported.

The combined activity of these whales underscores Ethereum's growing role in institutional portfolios, even as Bitcoin remains the dominant asset. With both large-scale holders and retail investors eyeing key price levels, the coming weeks could determine whether Ethereum sustains its momentum or faces renewed bearish pressure.