Ethereum Whales are Quietly Splashing Cash – Is Confidence Returning in ETH?
Ethereum whales and sharks are aggressively accumulating ETH, buying back $870 million after a major sell-off, signaling returning confidence.Summary
On-chain data reveals that deep-pocketed Ethereum investors, known as whales and sharks (holding 100 to 10,000 ETH), are aggressively buying the asset, accumulating over 218,000 ETH worth more than $870 million as of October 24th. This accumulation is significant because this cohort had previously sold about 1.36 million ETH between October 5th and 16th, a volatile period triggered partly by President Trump's announcement of tariffs on Chinese goods. The recent purchases suggest that confidence is gradually returning among these large stakeholders, as they have reclaimed nearly one-sixth of what they sold. ETH's price has stabilized around $3,912, leading experts to believe whales are accumulating strategically rather than speculating on short-term volatility. This behavior fuels optimism, with some bettors on Polymarket predicting ETH could surpass $5,000 by year-end, supported by Ethereum's growing utility in stablecoins, tokenization, and institutional settlement systems.
(Source：BeInCrypto)