Ethereum Whales Accumulate $883M in Single Day, Sparking Bullish Sentiment

Ethereum whale wallets have scooped up a record $883 million worth of ETH in a single day, according to data from CryptoQuant. This massive accumulation has increased the total ETH held by long-term holders to a record 19.24 million, representing an over 20% increase in 2025.

The record-breaking accumulation has sparked bullish sentiment among investors, as these addresses are believed to belong to institutional investors, entities, or long-term holders who actively accumulate the coin without initiating outgoing transactions. Market watchers suggest that significant spikes in accumulation addresses are usually indicative of possible price breakouts.

Historical patterns support this notion. In 2023, Ethereum accumulation addresses acquired over 244,000 ETH on February 26, which was followed by a massive 35% price increase about two months later. The same pattern repeated in July 2024. Market analyst Coinvo believes these spikes represent a buying opportunity for investors interested in trading the coin, predicting that Ethereum's price could soar to $16,000 before the end of President Donald Trump's presidency.

However, as of this writing, ETH is trading at $2,660.01, representing a 2.25% increase in the last 24 hours. The trading volume remains on a 41.79% decline at $14.4 billion, signaling the coin's battle to shake off its volatility and test new levels or reclaim the $4,000 level it hit in December 2024. Experts see this struggle as being intensified with Ethereum losing its dominance in decentralized finance and non-fungible tokens projects.