Ethereum Whales Accumulate 265 Million During June Dip

Ethereum whales have been actively accumulating the cryptocurrency, with significant purchases made during the price dip in June. According to data from analyst Ted, these whales acquired over $265 million in ETH during this period. From April 10 to June 19, Ethereum traded within a range of $1,000 to $3,000, and during this time, whale wallets holding over 10,000 ETH increased their holdings from 40.3 million to 41.4 million ETH. Early April saw a net purchase of 200,000 ETH, and by late April, net accumulation had surged past 400,000 ETH.

Whale behavior in May was characterized by unpredictability, with alternating periods of buying and selling. This resulted in high market volatility. In early June, whales made a significant purchase of 600,000 ETH, which preceded a rally that took ETH close to $3,000. However, by mid-June, net position changes dropped to -100,000 ETH, marking the beginning of a distribution phase. This shift coincided with a pullback in ETH prices, indicating a clear link between whale behavior and price direction. Currently, whale activity shows consolidation, with net positions steadied following June’s aggressive accumulation. While total holdings remain high, mega-whales appear to be waiting for clearer market signals.

Long-term accumulation wallets have shown unwavering conviction through multiple market cycles. According to popular analyst data shared on X, these wallets held just 1 million ETH in 2017. Despite bear markets, balances rose steadily, reaching 2.5 million ETH by the end of 2018. Between 2019 and 2020, holdings climbed to 3.5 million ETH. The 2021 bull run pushed balances to 6 million ETH as ETH hit $4,800. Even during the 2022 correction, holders added aggressively, pushing the total to 8 million ETH. These wallets’ holdings increased to 12 million ETH during 2023. In late 2024 and early 2025, shares increased once more. The amount of ETH increased from 12 million to more than 20 million. As a result, 22.8 million ETH are currently in accumulation wallets.

The accumulation by whales and long-term holders signals a potential shift in the Ethereum market. The significant purchases made during the price dip in June, along with the steady increase in holdings by long-term accumulation wallets, suggest a strong conviction in the cryptocurrency's long-term value. This behavior could indicate that these large holders are positioning themselves for future price appreciation, potentially driving the market in a bullish direction. The consolidation phase currently being observed among whales further supports this notion, as they appear to be waiting for clearer market signals before making further moves. Overall, the actions of Ethereum whales and accumulation wallets suggest a market shift towards a more bullish outlook, with significant holdings being accumulated in anticipation of future price increases.