Major Institution Invests $220 Million in Ethereum Amid Whale Accumulation Trend

In a significant move, a major institution has invested over $220 million in Ethereum, purchasing 85,465 ETH through over-the-counter transactions with Coinbase and Wintermute. The average price per ETH was $2,584, with the latest acquisition of 15,000 ETH at $2,477, totaling $37.16 million. Despite an unrealized loss of nearly $5 million, the institution has staked all 85,465 ETH through Lido, indicating a long-term strategy rather than short-term speculation. Additionally, the institution holds $112.94 million in USDC on Aave, suggesting potential for further Ethereum purchases.

This substantial investment aligns with a broader trend of whale accumulation in Ethereum. According to CryptoRank.io, addresses holding between 1,000 and 10,000 ETH have added more than 500,000 ETH since mid-2024. This trend of accumulation, especially during price weakness, signals confidence in Ethereum's future price recovery and its evolving role in decentralized finance. The combination of staking and holding stablecoins further underscores a calculated long-term approach to Ethereum investments.

Technical analysis of Ethereum's price chart reveals a macro bullish flag pattern that began in 2021. This pattern has historically led to strong rallies from each support touchpoint, with the current setup projecting a potential target of $8,000. Despite recent price declines, with ETH dropping 2.47% in the past 24 hours and 9.38% over the last week, the presence of long-term buyers during this period reflects strong institutional conviction. The technical setup, supported by whale activity and continued staking behavior, suggests room for sharp upside in Ethereum's price.