What Are Crypto Whales Doing as Ethereum Surges Past $2,200?
As Ethereum surpassed $2,200, on-chain data shows crypto whales, including Erik Voorhees, significantly increasing their ETH accumulation.Summary
Ethereum (ETH) recently surged past the $2,200 mark, reaching its highest level in over a month. In response to this momentum, on-chain data indicates that crypto whales are actively accumulating the asset. Notably, Erik Voorhees, founder of ShapeShift, resumed buying ETH in March 2026 after a year-long hiatus, accumulating 23,393 ETH at an average price of $2,098, despite having sold a large amount a year prior near $3,324. Other large investors are also active; one wallet linked to an early Ethereum contributor purchased 7,769 ETH at an average of $2,248, and another whale bought 5,003 ETH after six months of inactivity. Overall, whale wallet holdings increased by approximately 7.98 million ETH between March 12 and the time of reporting. Furthermore, institutional demand is growing, evidenced by three consecutive weeks of net inflows into Spot Ethereum ETFs. The sustainability of ETH's price increase will depend on broader market conditions and continued accumulation.
(Source：BeInCrypto)