Ethereum Whales Accumulate $2.5 Billion in One Day, Signaling Potential Bull Run

Ethereum whales, holding between 1,000 and 10,000 ETH, have accumulated the largest amount of ETH in a single day since 2018, totaling approximately $2.5 billion. This significant accumulation, as indicated by Glassnode data, mirrors the gathering observed in 2017, which preceded a substantial bull run for Ethereum. The supply of ETH held by whales has swiftly increased, surpassing the 14 million ETH level after a multi-year decline. This accumulation suggests that whales are front-running retail investors in a stealth accumulation play, as the price action of ETH has been declining.

Historically, such accumulation by whales has been followed by a significant bullish run in ETH. If the current pattern maintains the same trend as 2017, a substantial price breakout could be imminent. The rising conviction among whales indicates that low retail action might be followed by a surge in ETH's value, potentially marking a historic step for the cryptocurrency.

Over the past week, Ethereum experienced a net inflow of over $450 million into spot ETFs, marking the third-largest weekly inflow since August 2024. This surge in institutional buying reinforces the idea that quieter market periods often become accumulation phases for banks, institutional investors, and other savvy players. The renewed interest in ETH came as its price hovered near a key support level, even as inflows were rising—a classic sign of bullish divergence. While March and April 2025 saw bearish ETF outflows, the tide shifted in May and June with two consecutive weeks of strong inflows, signaling growing market confidence and a potential turning point for Ethereum’s momentum.

A bullish setup appears to be forming for Ethereum, driven by a notable drop in exchange supply and a surge in inflows. Rather than signaling a market top, these dynamics suggest a consolidation phase that could precede a breakout. Since early 2025, data from Token Terminal has shown a parabolic rise in tokenized assets under management on Ethereum. Major institutions such as BlackRock, PayPal, and Franklin Templeton have contributed to this growth, signaling a significant increase in institutional trust in Ethereum’s infrastructure. Ethereum is increasingly establishing itself as a financial hub, now anchoring over $4 billion in tokenized real-world assets (RWAs). Historically, strong capital inflows and the rising adoption of RWAs often precede major price revaluations. If this trend continues, Ethereum may be on the verge of a significant breakout.

One of the key technical indicators pointing to a potential bullish trend is the Golden Cross, where the 50-day Exponential Moving Average (EMA) is almost above the 200-day EMA. This technical pattern has historically signaled the start of a long-term rally. If Ethereum achieves a convincing break above $2,800 and holds there, it could set up a potential move to cycle highs around $4,000. This represents a significant bullish scenario for the cryptocurrency. In addition to technical indicators, Ethereum has been seeing strong momentum from institutional investors. Investment funds based on Ethereum have attracted nearly $1 billion this month, with almost $600 million pouring into the cryptocurrency in a single week. This influx of capital is largely due to the approval of spot Ethereum exchange-traded funds (ETFs) in the U.S. in July 2024, which has given direct institutional exposure to ETH, increasing short-term capital inflows and strategic allocation in the long term.

The increasing demand for Ethereum is also reflected in the accumulation of ETH by whale wallets. Ethereum whale wallets have accumulated 818,000 ETH, nearly $2.5 billion, in one day. Historically, mass accumulation by early investors has led to significant price action, further supporting the bullish outlook for Ethereum. Furthermore, Ethereum's multi-month consolidation has reached an inflection point, with traders and investors watching the $2,800 level as a potential breakout trigger. If Ethereum can break above this level, it could signal the start of a new bullish cycle.

In summary, Ethereum's technical indicators, institutional investment, and whale accumulation all point to a potential bullish move in the near future. While there are always risks and uncertainties in the cryptocurrency market, the current indicators suggest that Ethereum could be set for a significant rally.