Ether Whales Keep Buying as Price Rebounds from Weekend Dip

Large-scale Ether accumulation is back in focus as onchain data reveals continued whale buying activity despite the cryptocurrency’s brief weekend pullback. Arkham Intelligence reported on Sunday that a single address recently acquired $300 million worth of ETH through over-the-counter (OTC) trades facilitated by Galaxy Digital. 

The whale now holds 79,461 ETH, valued at approximately $282.5 million.

Institutional demand appears to be rising in parallel. BlackRock’s iShares Ethereum Trust ETF has seen $1.7 billion in inflows across 10 straight trading days. According to Dune Analytics, Ether held in exchange-traded products has surged by over 40% in the past 30 days, reflecting significant investor confidence.

Data from Glassnode also shows a spike in the number of Ether “mega whale” addresses—defined as those holding more than 10,000 ETH. Over 200 such addresses have been added since early July, including wallets held by exchanges, custodians, and ETF issuers, all contributing to the buying momentum.

Ether Stabilizes as Market Eyes Liquidity Boost

After briefly falling below $3,400 over the weekend, Ether managed to recover and was trading around $3,560 on Monday. The dip triggered opportunistic buying, with Eric Trump, son of former U.S. President Donald Trump, even encouraging his X followers to “buy the ETH dip.”

Monika Mlodzianowska, Director of Strategic Partnerships at crypto exchange CoinW, noted that while cooling labor market data initially unsettled investors, the rising chance of monetary easing could drive renewed optimism in crypto markets. “Liquidity expectations are shifting, and that could offer a bullish tailwind,” she stated.

Adding to Ether mainstream relevance, CNBC published an article on Saturday dubbing the network “Wall Street’s invisible backbone,” highlighting its increasing integration into traditional finance infrastructure.

August Remains a Cautious Month

Despite growing institutional confidence, historical trends suggest caution. Like Bitcoin, Ether has struggled in August, posting losses in the same month for three consecutive years.

It dropped sharply in both 2023 and 2024, though it previously gained 35.6% during the bull market of August 2021, according to CoinGlass.

While historical data points to seasonal weakness, the recent influx of capital from whales and ETFs may be a sign that some investors are betting on a different outcome this time.