Ethereum Whale Activity Surges as Price Hits $2,800+
Whales snap up $358M in ETH as Ethereum jumps above $2,800, fueling market speculation and institutional confidence.
- Ethereum price rebounds above $2,800 after whale accumulation
- Over $358M in ETH bought by 7 large wallets in 24 hours
- Institutional players move ETH from exchanges to private wallets
Ethereum has staged a strong comeback, surging past the $2,800 mark, driven by notable whale activity. In the past 24 hours alone, seven major players—ranging from institutional investors to anonymous whales—have acquired a staggering 127,971 ETH worth around $358 million. This surge in Ethereum whale activity suggests increasing confidence in the asset’s short-term potential.
One of the most significant movements came from a newly created wallet, 0x35fb, which withdrew 54,125 ETH (valued at $151 million) from Kraken in the last 16 hours. This single transaction accounts for nearly 42% of the total ETH acquired by whales in the past day.
Institutional Players Lead the Way
Hedge fund Abraxas Capital also made waves by moving 40,986 ETH ($114 million) from Binance and Kraken, likely into cold storage—signaling long-term holding intentions. Meanwhile, SharpLink Gaming, a known institutional holder of over 205,000 ETH, added another 5,072 ETH ($13.51 million) via an over-the-counter (OTC) transaction.
These strategic buys align with a broader trend of institutions consolidating their crypto positions, perhaps in preparation for a potential bullish run. In total, the institutional and whale movements over the past day have significantly contributed to Ethereum’s price action.
Smart Money Makes Strategic Moves
Retail may be cautious, but smart money isn’t. The GMX hacker wallet recently consolidated $32M worth of assets into 11,700 ETH, showing confidence in Ethereum’s liquidity and utility. Other whale wallets, such as 0x8C08 and pfm.eth, spent $25M and $8M USDT respectively to buy ETH at average prices between $2,721 and $2,759.
Another whale, 0x3c9E, moved 4,000 ETH from Kraken into DeFi platforms like Aave and Compound, possibly aiming to earn passive yield while holding.
This series of large-scale movements reveals not just accumulation, but strategic positioning—potentially ahead of a broader rally or favorable macro developments in the crypto space.
Read also:
- Bank of America: Bitcoin Is 2025’s Best Currency
- BTC & ETH Options Expiry Signals Market Uncertainty
- BlackRock Holds Over $5B in Ethereum Reserves
- BlackRock, Fidelity & Ark Buy $1B in Bitcoin
- Altcoins Breakout Looms as $1T Market Cap Nears
