Ethereum News Today: Ethereum Whales Amass 790,000 ETH in 20 Days Amid Bullish Fundamentals

Anonymous whale addresses have accumulated 790,000 ETH, valued at $2.89 billion, since July 10, 2025, marking a significant shift in Ethereum’s on-chain dynamics. The accumulation spans approximately 20 days and includes strategic purchases from major exchanges, such as FalconX and Galaxy Digital, with some transactions occurring at over $3,800 per ETH [1]. This coordinated buying pattern indicates long-term positioning by large holders rather than speculative short-term trading [1].

Key addresses involved in the accumulation include 0xdbf7, which withdrew 44,983 ETH ($166 million) from FalconX, and 0xdf0A, which acquired 23,314 ETH ($88.27 million) through Galaxy Digital [1]. These movements are not isolated; multiple wallets have been identified in large-scale accumulation efforts, with one example seeing 73,821 ETH ($283 million) added to a new address within a single 8-hour period [1]. Analysts from @lookonchain note that 11 new wallets have amassed 722,152 ETH since July 9, suggesting organized accumulation likely tied to anticipation of institutional and regulatory developments [1].

The timing of the accumulation aligns with Ethereum’s ongoing improvements, including EIP-1559-based deflationary mechanisms, the growth of DeFi and NFT ecosystems, and the profitability of staking. These factors, alongside the potential approval of a spot ETH ETF, have contributed to a bullish outlook for Ethereum. On-chain metrics, such as rising staking ratios and reduced exchange outflows, further support the narrative of long-term confidence in the asset [1].

However, the concentration of such a large portion of the Ethereum supply in a few addresses raises concerns about market volatility and the potential for manipulation. Should whale sentiment shift or a large sell-off occur, it could trigger sharp price corrections and negatively affect retail investors [1]. While Ethereum’s underlying fundamentals, including scalability improvements and a deflationary model, remain strong, investors are advised to be cautious about blindly following whale activity and to instead conduct independent research and employ disciplined investment strategies [1].

Platforms like Etherscan and Glassnode continue to provide real-time data for tracking Ethereum’s on-chain health and whale movements. The accumulation underscores Ethereum’s growing importance as a foundational asset in the digital asset ecosystem and aligns with the strategic positioning of its largest holders [1].

Source:

[1] Ethereum Whales Make Massive $2.89 Billion Accumulation in 20 Days (https://coinmarketcap.com/community/articles/688c1f729145cd2c70cc6964/)