Ethereum News Today: Ethereum Whales Amass $2.43 Billion in ETH as Open Interest Hits $28.2 Billion Record

Ethereum's price continues to draw attention as large investors, commonly referred to as whales, accumulate significant amounts of ETH through newly created wallets. As of July 30, 2025, nine new wallets have collectively absorbed 640,646 ETH, valued at approximately $2.43 billion, since July 9. A notable transfer involved wallet 0x3dF3, which received 12,000 ETH ($45.01 million) from Galaxy Digital’s over-the-counter wallet just eight hours prior. Similarly, another new wallet, 0x286f, received 12,749 ETH ($48.06 million) from FalconX’s hot wallet six hours earlier [1].

Data from July 28 already showed these wallets holding 628,646 ETH, suggesting a strategic accumulation strategy likely in anticipation of a potential price rally. Analysts have noted that such behavior may indicate long-term positioning by institutional or whale investors, aligning with broader market optimism around Ethereum [1].

At the same time, open interest across all exchanges has hit a record high of $28.2 billion, as reported by CryptoQuant [2]. This milestone highlights the growing leverage and speculative activity in the Ethereum market. Despite a 1.52% decline in ETH’s price over the past 24 hours, the asset is currently trading around $3,813.64.

The surge in open interest is often seen as a sign of increased confidence among traders, particularly those using leveraged positions. Some analysts describe the current ETH rally as "most hated," indicating a high number of traders remain on the sidelines, potentially setting the stage for FOMO (fear of missing out) entries as bullish momentum builds [2].

The market structure is increasingly showing signs of a potential parabolic move rather than a standard breakout. With rising leverage and whale accumulation, the market appears to be undergoing a coordinated shift in sentiment. However, such dynamics may leave latecomers exposed as the rally gains pace, potentially increasing volatility in the short term [2].

Interestingly, CoinCryptoNewz previously reported that the top 100 Ethereum addresses have reduced their combined holdings since May, with their share of the total ETH supply dropping from 22% to 19.6%—a reduction of roughly 2.9 million ETH [3]. This divergence between whale accumulation and large address activity raises questions about the motivations behind the current market moves.

Sources:

[1] https://coinmarketcap.com/community/articles/6889ebeeb68c6f644094b39a/