Ethereum Whales Accumulate $2.5 Billion in June 2025 Amid Market Volatility

In 2021, as Ethereum approached its cycle highs, there was a notable increase in transaction outflows, indicating that long-term holders were cashing out. This was seen as a significant warning sign at the time. However, the current data presents a different narrative. According to CryptoQuant, there has been no comparable uptick in ETH outflows in 2025, suggesting that whales remain on-chain, holding onto their Ethereum despite price volatility. This behavior indicates either confidence in further upside or a reluctance to exit prematurely amidst macro and ETF tailwinds.

While Ethereum’s market dominance has declined since 2020 due to the rise of competing Layer 1 and Layer 2 chains, whale behavior on Ethereum still shows a strong correlation to broader market trends. This means that Ethereum whale activity continues to serve as a reliable macro indicator of market cycle positioning and a signal for broader market sentiment, especially when there is a divergence between ETH outflows and price action.

The absence of whale exits in the face of a potential double-top structure suggests that bullish continuation is still possible, as major holders are not showing signs of profit-taking. However, caution is still warranted, especially if future outflows begin to spike unexpectedly. Ethereum could remain aligned with Bitcoin’s next move, given the continued correlation in transaction flow behavior.

Ethereum whales have shown no signs of exiting their positions, despite the recent price volatility in the cryptocurrency market. According to on-chain data, there has been no significant uptick in ETH outflows in 2025, indicating that these large holders are maintaining their positions. This trend is particularly notable given the market's reaction to geopolitical events, such as the US airstrikes on Iran, which triggered a sharp sell-off in the broader market.

On June 22, 2025, a high net worth Ethereum trader accumulated approximately $39 million worth of ETH during a market downturn. This purchase, made by the wallet address 0x7355...213, boosted the trader's total Ether holdings to around $330 million. The timing of this acquisition suggests that the whale viewed the sell-off as a long-term buying opportunity rather than a reason to panic. This sentiment is supported by Glassnode's data, which shows that Ethereum wallets holding 10,000 ETH or more increased their net positions both on the day of the US airstrikes and in the days leading up to it. On June 21, these mega-whales scooped up over 116,893 ETH worth $265.30 million, further indicating their confidence in the asset's potential for price appreciation.

The accumulation of ETH by whales is not an isolated event. Recent on-chain data reveals that Ethereum whales have been accumulating the asset at an unprecedented pace. On June 15, 2025, whales snapped up $2.5 billion in ETH, marking their biggest haul since 2018. This bold move signals unwavering confidence in Ethereum's future price appreciation. Additionally, technical patterns suggest that Ether’s price could rebound by 25% toward $2,735 in the short term, according to market analyst Sensei. A bounce from the same support level led to a 55% rally in April-May 2025, and if the pattern plays out, ETH could rebound toward the $2,735 resistance level in the short term.

The continued holding and accumulation of ETH by whales, despite market volatility and geopolitical tensions, underscores their long-term bullish sentiment. This trend is a positive indicator for the Ethereum ecosystem, as it suggests that large holders are confident in the asset's future prospects. However, it is important to note that every investment and trading move involves risk, and investors should conduct their own research when making decisions.