Ethereum Whales Accumulate 818,410 ETH Amid 90% Price Surge

Ethereum whales have been actively accumulating Ether (ETH), with a significant purchase of over 818,410 ETH (~$2.5 billion) on June 15, marking the highest daily inflow for this cohort in more than six years. This accumulation coincides with a surge in institutional demand via Ether investment funds, which attracted $583 million in the week ending June 13, pushing year-to-date net inflows to $2.28 billion. These addresses, often associated with funds, early adopters, and whales, were collectively holding more than 16 million ETH on the same day, compared to 11.87 million ETH almost a year ago.

Ethereum's price has risen 90% in the past two months, led by optimism around Ethereum’s Pectra upgrade and the restructuring of its foundation’s core team. However, it remains trapped inside a multimonth consolidation channel, mirroring its 2017 breakout pattern. In 2016–2017, ETH ranged inside the $10–20 channel after the DAO hack and Ethereum Classic split. The market lacked conviction, but once the range broke, ETH surged to over $1,500 in under a year thanks to the ICO boom. In 2024–2025, ETH is again consolidating, this time inside the channel defined by $2,150 and $3,600, while holding above the 50-week and 200-week exponential moving averages supports. The drivers are different, but the setup is similar: ETH is coiling below resistance, just as before its last major breakout. That puts its short-term ETH price target at around $4,000, aligning with the channel’s upper trendline. Multiple analysts have signaled the same upside target for Ethereum in the past. Milkybull Crypto anticipates Ethereum to rise even further, noting in May that a $10,000 ETH price target “cannot be ruled out.”

One notable whale purchased a staggering $127 million worth of ETH amidst a period of market volatility and panic selling. This significant buy-in occurred as the broader crypto market faced uncertainty. The whale's acquisition of 48,825 ETH from major exchanges highlights a strategic move to capitalize on the market downturn. The average price per coin for this purchase was $2,605, indicating the whale's confidence in Ethereum's potential for future gains despite the current market conditions. The whale's actions suggest a buy-the-dip strategy, where the investor takes advantage of steep price drops to accumulate more ETH. This strategy showcases a strong conviction in Ethereum's near-to-long-term outlook. The whale's previous history of well-timed ETH plays further supports this notion, as they had previously made a $30 million profit from an earlier ETH trade. This strategic buying behavior is not typical of speculative traders, indicating a more calculated approach.

The whale's recent purchase was preceded by the receipt of over $127 million in USDC stablecoin, suggesting a planned and calculated move. Transaction records show large inflows of ETH into a single receiving wallet, with high-value transfers coming in quick succession. These movements included multi-million dollar transfers from hot wallets and trading addresses, consolidating tens of thousands of ETH coins in a short window. The whale's actions have raised eyebrows across the crypto community, with many members expressing admiration for the strategic play. Some highlight that the whale's analysis based on the previous $30 million profit is proof of sharp market insight. Others believe that once the market settles down and exits its bearish phase, the investor could be positioned for even greater profits.

In addition to this significant purchase, other whales and large investors have also been accumulating ETH. Over the past month, whales and sharks have accumulated 1.49 million ETH, indicating a broader trend of institutional buying. This accumulation suggests that these large investors are confident in Ethereum's long-term prospects and are positioning themselves to benefit from future price increases. The recent market downturn has provided an opportunity for these whales to accumulate more ETH at lower prices. The average price per coin for the whale's $127 million purchase was $2,605, which is lower than the current trading price. This indicates that the whale is taking advantage of the market downturn to accumulate more ETH at a discounted price. The whale's actions also highlight the importance of strategic timing in the crypto market. The whale's purchase occurred during a period of intense panic selling and crowd uncertainty, suggesting that the investor is taking a contrarian approach to the market. This strategy has proven successful in the past, as the whale had previously made a $30 million profit from an earlier ETH trade.