Over the weekend, the Ethereum market suffered a sharp drop in price, falling below $3,400. At the time, one of the world's largest crypto whales closed a deal worth about $300 million, buying 79,461 ETH (about $282.5 million) via OTC trading on the Galaxy Digital platform. This figure is confirmed by Arkham Intelligence analysis.
The situation demonstrated the classic strategy of big players: when the market falls, they accumulate long-term assets, taking advantage of the panic of other participants.
Growth in the Number of Large Holders and Institutional Interest
According to the Glassnode analytics platform, the number of addresses with a balance of more than 10,000 ETH continues to grow. In July alone, more than 200 new large portfolios appeared. This indicates continued interest from private and institutional investors.
Crypto ETFs are also attracting attention. For example, BlackRock's Ethereum ETF (iShares Ethereum Trust, ticker ETHA) has already attracted $1.7 billion in less than two weeks. This has increased upward pressure on the price of ETH and confirmed the presence of long-term institutional demand.
Blockchain analysis shows that in July and August there was a sharp increase in balances in the addresses of major players. The volume of ETH in portfolios with a balance of more than 10,000 ETH increased by more than 9% in a short period. This is even higher than the growth rate before the famous 2022 rally.
Whales bought another 190,000 #Ethereum $ETH in the last 24 hours, shows data from @santimentfeed! pic.twitter.com/UacqoJEk7w
- Ali (@ali_charts) March 1, 2025
According to Cointelegraph, the volume of ETH in the portfolios of the so-called "mega-billions" has increased from 37.56 to 41.06 million ETH, indicating systematic purchases and a likely expectation of an increase in asset value.
Price Dynamics and Volatility
ETH's sharp drop to $3,400 in early August became a signal for active buying. By Monday, the price had already recovered to $3,560. Despite seasonal volatility, August in the past two years has been accompanied by a significant drop in ETH. In 2025, the situation could develop according to a different scenario, thanks to institutional support.
Despite the growing interest from large investors, the market remains sensitive to external factors. Both short-term selling to make profits and regulatory news that may change the dynamics are possible.
It is also important to monitor the behaviour of large funds and new inflows into ETF products, as they are the ones shaping the dominant trends in the market.
Ethereum Back Under the Spotlight
Active whale buying and growing interest from large funds indicate a possible start of a new accumulation phase. If the current trend continues, ETH could break through resistance around $3,600 and start rising.
Investors should watch the behaviour of large portfolios, flows into ETFs and key price levels. The current phase is a decision-making moment when the market can either confirm the start of growth or return to lower values. So far, everything points to the first option.
