What are crypto whales doing as Ethereum soars above $2,200?

Ethereum ($ETH) soared above the $2,200 mark in early Asian trading today, hitting its highest level in more than a month.

As the second-largest cryptocurrency extends its healthy gains from the weekend, on-chain data reveals that crypto whales are capitalizing on the momentum with notable accumulations.

Ethereum whale cumulative increase

Lookonchain reports that early Bitcoin supporter and Shapeshift founder Eric Voorhees has resumed buying. $ETH After a hiatus of about 1 year.

Voorhees sold 12,886 units $ETH A year ago, the average price was $3,324, or about $42.83 million. In March 2026, two wallets linked to him accumulated 23,393 $ETHworth approximately $49.08 million. The average purchase price was $2,098.

“He still has 35.25 million USDT and may buy more.” $ETH” wrote Lookonchain.

The platform also highlighted that a wallet linked to an early Ethereum contributor (0xf792) also spent $17.46 million on 7,769 purchases. $ETH The average price is $2,248.

Purchasing trends are not new. BeInCrypto reported that $80,157 has been withdrawn from wallet 0x8E34 since March 11th. $ETH From the exchange. At the same time, another large investor, Wallet 0x743d, spent $24.79 million to buy 11,985. $ETH.

Overall, Whale Wallet holdings increased from 113.47 million to 121.45 million between March 12 and the time of writing, an increase of approximately 7.98 million, according to Santiment data.

Demand from institutional investors is also increasing. According to data from SoSoValue, the Spot Ethereum ETF has recorded net inflows for the third consecutive week.

Can this momentum be sustained? $ETH Higher levels are likely to depend on broader market conditions and continued accumulation in the coming weeks.

The post What Are Crypto Whales Doing as Ethereum Soars Above $2,200?The post What Are Crypto Whales Doing? appeared first on BeInCrypto.