Ethereum News Today: Ethereum Whales' $1.37B Downturn Buy-In Signals Upcoming $10K Surge

Ethereum's largest holders have embarked on a massive accumulation spree, purchasing over $1.37 billion in ETH during a 12% price slump in November 2025, signaling deepening bullish sentiment despite broader market turbulence. On-chain data reveals that eight major entities collectively bought 394,682 ETH, with the largest single buyer—a whale identified by Lookonchain as an Aave user—purchasing 257,543 ETH worth $896 million using borrowed stablecoins, as BeInCrypto reported. This leveraged acquisition, which utilized $270 million in Aave loans collateralized by $584 million in wrapped ETH (WETH), highlights the aggressive risk appetite among institutional investors, as CoinFomania reported.

The Aave whale's strategy involved a high-leverage cycle of borrowing, swapping, and redepositing.

Over a single hour, the entity borrowed $30 million in USDC, converted it to 12,687 ETH, and funneled the tokens back into DeFi protocols to maintain liquidity and collateralize further loans, as CoinFomania reported. This pattern repeated multiple times daily, amplifying ETH's volatility while reinforcing the whale's conviction in Ethereum's long-term trajectory. The position's health ratio of 2.1, while within safe limits, underscores the precariousness of such leveraged bets, with liquidation risks looming if prices drop below $2,700, as CoinFomania reported.

Other major players joined the buying frenzy. Bitmine Immersion Technologies, Ethereum's largest corporate holder, added 40,719 ETH ($139.6 million) to its portfolio, continuing a strategy of aggressive dip accumulation that included $250 million and $113 million purchases in October, as BeInCrypto reported. Meanwhile, a second whale-address 0x9992-borrowed $10 million in USDC to acquire 2,909 ETH, expanding its holdings to 83,816 ETH ($288.6 million) while maintaining $122.89 million in stablecoin debt, as CoinFomania reported. These coordinated moves suggest a coordinated effort to capitalize on Ethereum's undervaluation, with analysts noting that such whale activity often precedes significant market shifts, as CryptoNews reported.

Market fundamentals align with this bullish momentum. Ethereum exchange reserves have hit their lowest level since 2016, indicating a shift from speculative trading to long-term holding, as BeInCrypto reported. On-chain metrics like negative MVRV readings further confirm a historically low-risk buying zone, as BeInCrypto reported. Technical indicators also show Ethereum (ETH) stabilizing around $3,400 after a four-month low of $3,000, with analysts at CoinDCX and Bitget Wallet projecting a potential rebound to $4,800–$10,000 by late 2025, as CryptoNews reported.

The leveraged whale activity coincides with anticipation for Ethereum's December Fusaka upgrade, which aims to enhance network scalability and reduce gas fees. Institutional adoption, coupled with improved infrastructure, has drawn renewed interest from large investors, despite the risks of liquidation, as CoinFomania reported.