The Ethereum Whale doubles in top altcoins by market capitalization with an impressive $236 million purchase wall over three days.
Ethereum (ETH) prices have been struggling amid recent sales pressures and continue trading below $2,000.
However, whales, or large investors with substantial ETH holdings, are not at all odds.
In fact, data on the chain shows that Altcoin, the world’s largest by market capitalization, attracts important purchasing activities from large owners.
On March 21, Crypto analyst Ali Martinez shared a chart showing a surge in ETH whale accumulation. A retrenchment in Ethereum prices by more than $2,000 has allowed whales to scoop over 120,000 ether tokens (worth nearly $236 million) in just three days, analysts said.
Whale has purchased over 120,000 #ethereum $eth in the last 72 hours! pic.twitter.com/kuzy6u9drs
– Ali (@Ali_Charts) March 21, 2025
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According to Lookonchain, one such whales purchased 7,074 ETH, worth more than $13.8 million. According to on-chain data, Whale has withdrawn over $8.81 million in ETH from crypto exchange OKX and deposited them on decentralized finance platform Aave.
But the whale didn’t stop there. They borrowed 5 million USDT from the Defi protocol and deposited it with OKX. The funds had purchased 2,563 ETH for $5 million.
The Whale bought $7,074 ETH ($13.8 million) today!
The whale retracted a $4,511 ETH ($8.81 million) from #OKX three hours ago and deposited it in #aave.
He then borrowed 5m $usdt from #aave and deposited it in $okx and bought another 2,563 $eth ($5m).https://t.co/e2rp7ymcaa pic.twitter.com/ylnvvvvvh3rb
– lookonchain (@lookonchain) March 21, 2025
During this period, Ethereum prices fluctuated between $1,872 and $2,060.
ETH is currently trading at around $1,966 and continues its sideways action after giving up profits seen when the Bulls rose 7% on Wednesday. The weekly profit was just 1.7%, and buyers have endured a 27% pullback in the past month.
Choppy performance is being sold by some ETH holders in panic, but whales have taken a proactive approach. This suggests confidence in Ethereum’s potential future price increases.
Recently, Standard Chartered’s forecast ETH analysts could rise to $4,000 in 2025, including revised forecasts from an early bullish take of $10,000 by the end of the year.
But this bullish outlook by the whales also has retailers in a bright mood.
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