Ethereum Whales Accumulate 1 Million ETH Amid Price Volatility

Ethereum whales have made a significant move, accumulating nearly 1 million ETH in a single day. This marks the largest single accumulation since 2018, occurring amidst volatile price action. The accumulation was driven by addresses holding between 1,000 and 10,000 ETH, indicating renewed interest among major holders following recent price volatility. This move has added strength to Ethereum's changing short-term market structure.

Data visualized by Glassnode and shared in a post by Quinten shows that Ethereum whale wallets accumulated heavily in January and February 2025. Weekly inflows crossed 300,000 ETH during this period while ETH traded above $3,000. However, by mid-March, selling pressure returned, and whales flipped to sustained net outflows. These exits peaked in April, with a weekly decline of nearly 150,000 ETH, coinciding with Ethereum’s price falling below $2,200. As this selloff eased in early May, accumulation returned, with whale net positions climbing again, culminating in over 800,000 ETH of net inflows by mid-June. This timing aligned closely with Ethereum’s price rebound.

At the infrastructure level, Ethereum has reclaimed its leadership in bridged capital flows and stablecoin activity. In the latest 24-hour cycle, Ethereum saw over $250 million in positive net bridging flow, placing it ahead of other networks. Base and Arbitrum, in contrast, posted the largest bridged net outflows, both approaching $250 million in capital exit. These reversals indicate a decisive liquidity shift away from certain L2 ecosystems, with Ethereum remaining the core settlement layer for capital reallocation. Stablecoin metrics also acted in line, with Ethereum supply increasing by more than $500 million in one day, vastly bigger than other networks. This move is symptomatic of Ethereum's central role in capturing DeFi flow.

Price action in Ethereum from June 21 through June 27 verifies the information on accumulation. ETH dropped below $2,200 on June 22 but subsequently recovered strongly by June 24. The upsurge peaked around $2,500 and then settled between $2,430 and $2,490. The intersection of whale inflows, stablecoin expansion, and price recovery paints a tightly woven picture. Ethereum's short-term direction now hinges on continued capital inflow and technical setup above $2,400.

The renewed accumulation by whales and institutional investors is a positive sign for the Ethereum market. It indicates that large investors are bullish on the cryptocurrency and are willing to invest significant amounts of capital. This accumulation could lead to further price increases, as the demand for Ethereum continues to grow. Additionally, the increasing institutional demand through staking and ETFs suggests that Ethereum is becoming more mainstream and is attracting the attention of traditional investors.

The price recovery of Ethereum and the accumulation by whales and institutional investors are positive developments for the cryptocurrency market. It indicates that there is a growing confidence in the long-term potential of Ethereum, which could lead to further price increases. As the demand for Ethereum continues to grow, it is likely that the price will continue to rise, making it an attractive investment opportunity for both individual and institutional investors.