Ethereum’s largest holders are making strategic moves, quietly amassing record amounts of ETH even as the market faces volatility. In the past week, wallets holding between 1,000 and 10,000 ETH—commonly referred to as “whales”—have increased their collective holdings to more than 14.3 million ETH, the highest level ever recorded for this group 1.
Whale Accumulation Surges Despite Price Pressure
On June 12, these whale wallets added an impressive 871,000 ETH in a single day, marking the largest daily net inflow so far in 2025 . This surge in accumulation comes at a time when Ethereum’s price has slipped below $4,000, with recent trading hovering around $2,500. Despite the price dip, the confidence among large holders appears undiminished.
Source: X (@glassnode)
What’s Driving the Whale Activity?
Several factors are at play:
• Long-Term Conviction: While retail investors have been taking profits and reducing exposure, whales are steadily increasing their positions, signaling strong long-term belief in Ethereum’s fundamentals 5.
• Market Impact: As whales move ETH into long-term wallets, the circulating supply tightens. If demand rises, this could put upward pressure on prices.
• Historical Context: The last time such aggressive accumulation occurred was during the 2017 bull market, a period that saw crypto prices reach new highs 1.
Trading Volumes and Market Sentiment
Despite the price decline, Ethereum’s 24-hour trading volume has surged, reflecting heightened activity among traders. This aligns with the on-chain data showing increased whale transactions, even as the broader market remains cautious.
What Does This Mean for Ethereum?
The current trend suggests that Ethereum’s largest holders are positioning themselves for potential future gains, undeterred by short-term price movements. Their actions could foreshadow a shift in market dynamics, especially if retail sentiment rebounds or new catalysts emerge.
• Ethereum Whale Wallets Increase Holdings Amid Retail Profit-Taking
