Ethereum is exhibiting strong bullish signals as it approaches the critical $4.800 price level, buoyed by significant capital inflows from major market participants. In a remarkable 48-hour period, large-scale investors, colloquially known as ‘whales’, have acquired approximately 500.000 ETH, a sum valued at nearly $2.400 million at current prices. This aggressive accumulation underscores a rising institutional conviction in the asset’s short-to-medium term trajectory.
Sustained Accumulation Signals Market Confidence
The recent surge in buying is not an isolated event but rather the culmination of a sustained trend. According to on-chain data, wallets holding between 10.000 and 100.000 ETH have systematically increased their positions since mid-June 2025. Over this period, their collective holdings swelled from 26,2 million ETH to 29,87 million ETH by late August.
This steady accumulation has directly correlated with Ethereum’s price performance, which saw the asset climb from approximately $3.200 on June 19 to a recent high of $4.718 on August 22. The alignment of large-volume buying with positive price momentum suggests that institutional players are strategically positioning themselves ahead of a potential breakout.
Read Also: SharpLink Unveils $1.5 Billion Buyback, Tying Fortunes to Ethereum Rally
A Relic from the Past: ICO Wallet Awakens After a Decade
Adding another layer of intrigue to the market activity, a long-dormant wallet from Ethereum’s Initial Coin Offering (ICO) era has shown signs of life. Data from the tracking service Lookonchain identified a participant who invested just $15,50 in the 2014 ICO to receive 49,93 ETH. After a decade of inactivity, that initial investment is now worth approximately $240.000, representing a staggering return of over (15.000x). The wallet’s recent test transfer suggests the owner is preparing to move these long-held assets, a testament to Ethereum’s profound long-term value creation.
Derivatives Market Reflects Heightened Volatility
While spot markets reflect bullish accumulation, the derivatives landscape reveals a more volatile picture. Over the last 24 hours, total liquidations for Ethereum positions reached $25.000.000, with the losses split almost evenly between long and short contracts. This indicates that while many are betting on a continued rise, significant leverage on both sides is creating a tense and volatile trading environment.
The majority of this activity was concentrated on a few leading exchanges, highlighting their dominance in the crypto derivatives space.
| Exchange | Liquidations (USD) |
| Binance | ~$10.000.000 |
| Bybit | Significant Volume |
| OKX | Significant Volume |
| Others (Huobi, Bitfinex) | Smaller Amounts |
As Ethereum challenges the $4.800 resistance, the market dynamic is defined by a tug-of-war between the steadfast conviction of long-term holders and the high-stakes volatility of the leveraged trading market.
Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Investors should always conduct their own thorough research and consult with a qualified financial advisor before making any investment decisions in cryptocurrencies, which are highly volatile and speculative assets.
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