Are Whales Buying ETH? Looking at the Current Data

Ethereum has been struggling in recent months, but the tides might be changing as whales are once again quietly accumulating significant amounts of ETH. In the past few weeks, three major Ethereum whales have bought millions of dollars worth of ETH in just a matter of hours, with no signs of speculative trading or risky arbitrage. 

This calculated, quiet accumulation may signal that whales are preparing for a significant price movement. Let’s take a closer look at the latest whale activity and what it could mean for the price of Ethereum.

Read also : Ethereum Merge: Definition, How It Works, and Real-World Impact

Whales Make a Comeback: Quiet Accumulation of ETH

Ethereum whales, who had been relatively quiet for a while, have recently re-entered the market in a big way. According to insights from LookOnChain, three whales made massive ETH purchases within a short time frame, acquiring over $7 million worth of ETH. These transactions were not driven by hype or speculation; rather, they were carefully calculated moves.

The first whale, wallet 0xDdb4, borrowed $3.44 million USDC from Aave, which was then used to purchase 1,856 ETH through Uniswap and over-the-counter (OTC) addresses. This was not a quick, speculative move, but a deliberate strategy to rotate capital into Ethereum. This careful planning suggests that the whale believed Ethereum’s price was at a favorable point for investment.

Soon after, wallet 0xf84d mimicked this move but took it a step further. This whale borrowed $1.64 million USDC and spent $2.34 million to acquire 1,259 ETH. It’s worth noting that this whale seemed to have stablecoins already reserved, which shows that it had been preparing for this accumulation during earlier dips in the market.

The third whale, wallet 0x69D0, made an even more intriguing move. This wallet withdrew 2,250 ETH (around $4.12 million) from Binance, but what stands out is that this wallet had no prior transaction history. The lack of any previous activity in the wallet made this large withdrawal even more interesting, as it hinted at the strategic accumulation by a whale that had been waiting for the right moment.

Together, these three whales moved over $7 million worth of ETH within two hours, a clear sign that large, institutional investors are regaining confidence in Ethereum. This activity could be a precursor to significant price movements, as whales tend to accumulate during market lows before prices rally.

Source: Twitter

Ethereum Price: A History of Volatility and Hope for a Breakout

Ethereum’s price has been volatile, with the cryptocurrency experiencing significant drops over the past few months. In February alone, Ethereum saw a staggering 32% drop, and for five consecutive months, the token struggled to maintain its value. Ethereum dropped below the $2,000 mark, which left many investors disheartened.

However, in the past two weeks, Ethereum has rebounded by around 16%, currently trading above $1,800. This recovery has occurred at a time when historical data suggests Ethereum may be due for a breakout. May has traditionally been one of Ethereum’s strongest months, with the cryptocurrency posting gains in seven out of the last ten years. The average monthly gain for Ethereum in May is over 27%, which has analysts optimistic about its potential for a major rally.

Analyst Carl Moon has pointed out that the historical trends for Ethereum in May suggest a high likelihood of a positive price movement. This, combined with the recent activity from Ethereum whales, points to the possibility that Ethereum could be entering a more bullish phase.

Ethereum’s Potential for a Bullish Cycle: Comparing to Past Bull Runs

Ethereum’s recent price action has begun to resemble Bitcoin’s bullish setup in 2020–2021. Analyst Merlijn The Trader believes that Ethereum’s current market situation is similar to Bitcoin’s before its price surged in the past bull run. If this analogy holds true, Ethereum could be preparing for a major breakout in the coming weeks.

Furthermore, analyst SHERIFF notes that Ethereum’s downtrend has led to extremely low sentiment and volatility, which might be exactly when “the next big move brews.” Historically, such low periods have often been the precursor to strong price increases as the market eventually catches up to the new sentiment.

While the future of Ethereum remains uncertain, the combination of whale activity, historically strong data for May, and bullish sentiment suggests that Ethereum may be gearing up for a rally. If these whales are correct in their calculated investments, this quiet accumulation could be the calm before a bullish storm.

Source: Twitter

What This Means for Investors

For Ethereum investors, the recent whale activity is a signal to pay close attention to the market over the next few weeks. As whales are typically early movers, their purchases may indicate that they are positioning themselves for a significant price movement. If Ethereum continues to follow its historical trend of strong performance in May, there could be a substantial opportunity for investors looking to capitalize on potential growth.

However, as with any cryptocurrency, the market remains volatile, and investors should be aware of the risks involved. While the recent whale activity may suggest that Ethereum’s price could see an upward trend, it’s important for investors to remain cautious and stay informed on market developments.

Read also : Ethereum Indicator Points to A New Bullish Trend! Is This Correct?

Conclusion: Will Ethereum Price See a Breakout?

Ethereum whales are quietly making significant moves, and their calculated accumulation of ETH could be the precursor to a price breakout. With historical data supporting strong performance in May, and the growing confidence of institutional investors, Ethereum could be poised for a bullish phase. However, as always, the market’s unpredictable nature means that caution is still advised.

As whales continue to buy into Ethereum, the question remains whether the token can maintain its upward trajectory or face further volatility. For now, Ethereum's future looks promising, but only time will tell if these whale activities signal the beginning of a new bullish phase or if the market will remain stuck in a downward trend.

FAQ

Why are Ethereum whales buying ETH now?

Ethereum whales are making significant moves by quietly accumulating large amounts of ETH. These purchases appear to be strategic and calculated, with no signs of speculative trading. This behavior suggests that these whales believe the current market conditions are favorable for Ethereum’s long-term growth and potential price breakout.

What is the significance of whale activity for Ethereum’s price?

Whale activity often precedes major price movements in the cryptocurrency market. When whales buy large quantities of ETH, it signals confidence in the asset's future value. Given Ethereum’s historical performance in May and the current market sentiment, these whale activities may indicate that Ethereum could be preparing for a significant price rally.

What are the prospects for Ethereum in May 2025?

Historically, May has been one of Ethereum’s strongest months, with the cryptocurrency showing an average monthly gain of over 27% in previous years. Given the recent rebound in Ethereum’s price and the positive activity from whales, many analysts are optimistic about Ethereum’s potential for a breakout in May 2025, despite its recent volatility.