Ethereum News Today: Institutional and Mega Whale Buying Drives Ethereum Accumulation Amid Volatility

Ethereum’s large holders, often referred to as “mega whales,” have continued to accumulate Ether amid recent market volatility, according to onchain analytics reports. Despite a weekend dip in prices to just below $3,400, significant buying activity has emerged, particularly from institutional investors and large-scale crypto custodians. One major address, identified by Arkham Intelligence, recently added $300 million in ETH through over-the-counter trading with Galaxy Digital. The address now holds 79,461 ETH, valued at approximately $282.5 million [1].

The trend extends to institutional onramps such as the iShares Ethereum Trust ETF managed by BlackRock, which has seen over $1.7 billion in inflows across the last ten trading days. Exchange-traded fund holdings of Ethereum have surged by more than 40% over the past 30 days, reflecting increased institutional confidence in the asset class [2].

Glassnode data also highlights a rise in the number of “mega whale” addresses—those holding more than 10,000 ETH—with over 200 new entries since early July. These addresses include major exchanges, custodians, and ETPs, all of which have been accumulating Ethereum at a significant pace [3].

The recent buying pressure appears to be countering broader market concerns. Monika Mlodzianowska, director of strategic partnerships at CoinW, noted that while the cooling labor market initially spooked investors, the possibility of monetary easing could soon reverse the sell-off and create a bullish environment for cryptocurrencies as liquidity expectations shift [4].

Ethereum has historically struggled in the month of August, mirroring Bitcoin’s performance in the same period over the past 12 years. The token saw double-digit declines in both August 2023 and 2024, although it recorded a strong 35.6% gain in August 2021, during a bull market. On Sunday, Eric Trump, son of former U.S. President Donald Trump, encouraged his followers on X to buy the Ethereum dip [5].

Ether has since rebounded, reclaiming $3,560 on Monday, signaling a potential reversal in sentiment. With key institutional players and large onchain actors continuing to accumulate, the market may be setting the stage for a broader recovery.

Source: [1]https://cointelegraph.com/news/eth-holders-scoop-up-ether-as-mega-whale-addresses-surge