Whales are actively purchasing Ethereum using dips, even if the top altcoin dominance falls to an historic low of 8%.
Like many other altcoins, Ethereum (ETH) remains largely weak due to continued pressure on selling risk assets. Tariffs are a major factor in this environment, with bitcoin (BTC) choppy and stocks wobbling.
Ethereum prices have fallen 46% over the past year, with Bitcoin dropping significantly. ETH’s control has steadily declined since June 2023, falling from 20% to 8%, according to Crypto analyst Rekt Capital.
But analysts say Ethereum has seen historically bounce back whenever market capitalization control falls to its current level. As history repeats itself, ETH can see fresh feet. Is dip an opportunity to buy? Large investors (or otherwise known as whales) seem to suggest that.
read more: Ethereum Developers will target launch of the Pectra Upgrade Mainnet on May 7th
Once Ethereum fell below $2,000, the investor group increased its holdings. Intotheblock data shows the number of large transactions, from 4.41k on April 2nd to 4.61k on April 4th. Over the past week, large transactions averaged 5.5k.
For each data on the chain, three whale wallets have purchased more than $40 million in ETH in the last 24 hours.
“The whales have spent 20.78m to create a new wallet and buy $11,463 ETH for $1,813 over the last six hours,” Lookonchain posted on X.
According to Lookonchain, one whale has actively purchased ether since March 26, 2025.
This whale bought a $4,100 ETH ($7.32m) for $1,785 today!
Since March 26th, this whale has an average price of 1,959.https://t.co/qwo8w90dwe pic.twitter.com/lmo1mhqfj1
– lookonchain (@lookonchain) April 4, 2025
On-chain data shows that it scooped 3,195 ETH for a total of $5.97 million on March 29th, and scooped 4,100 ETH, over $7.32 million on April 4th, 2025.
However, with the price of top altcoins struggling in recent weeks, the whale managed to buy it at a low price. LookonChain’s X post showed that the average purchase price would be $1,785 per coin for the latest purchase.
Currently, investors have a total ETH transport of 33,441, and it has been acquired for over $65.5 million. Overall, the holdings are an average purchase price of $1,959.
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