Ethereum Whales Are Back: Major Accumulation Signals Potential Rally Ahead

Ethereum's biggest players are diving back in—and they're buying heavy. Whale wallets that went quiet for months are suddenly loading up ETH at levels not seen since the last bull cycle. This isn't retail FOMO; it's capital moving with purpose.

The Whale Watch Is On

On-chain data shows a clear shift. Large transactions—those over $100k—have spiked, indicating institutional-grade accumulation. Exchange outflows are outpacing inflows, a classic sign of coins moving from trading venues into long-term storage. The smart money isn't just dipping a toe; it's building a position.

Liquidity Follows the Money

Where whales go, liquidity often follows. This renewed accumulation typically precedes increased network activity as developers and projects anticipate capital deployment. It's the old Wall Street playbook—just with fewer suits and more cryptographic keys. (Though let's be honest, the finance bro energy remains strong.)

Is The Rally Locked In?

Not necessarily. Whale accumulation creates a foundation, not a guarantee. It reduces immediate sell pressure and signals conviction, but macro conditions and broader crypto sentiment still call the shots. That said, when entities with the deepest pockets start behaving like the bottom is in, it's rarely wise to bet against them.

The stage might finally be set. The whales have returned to feed—and the rest of the market is watching to see if this time, the tide lifts all ships or just the yachts.

Big Ethereum Wallets Re-Entering The Market

The ethereum market appears to be shifting once again into a period of demand and accumulation. ETH’s holder behavior is undergoing a decisive shift as observed among major investors or whales, who have returned to accumulation mode.

After several weeks of relative caution, Mlik Road, a crypto and macro researcher, outlined that large ETH holders have been steadily increasing their holdings in the past few days. This steady accumulation is being carried out by wallet addresses holding more than 1,000 ETH, signaling renewed confidence in the altcoin’s long-term prospects.

Data from the Ethereum Retail and Large Investor Holdings metric shows that whale holders have acquired over 120,000 ETH valued at approximately $350 million since December 26. With the price of ETH facing volatility, this action indicates that smart money investors might be preparing themselves ahead of a major upward move, even if the price movement is still measured.

As a result of the massive accumulation, wallet addresses containing 1,000+ ETH currently control roughly 70% of the entire supply in circulation. A look at the chart shows that this share held by the cohort has been on a steady increase since late 2024, reflecting the unwavering resilience of the investors despite multiple sideways movements.

Should this behavior continue, Milk Road highlighted that the market may not fully be pricing in where the smart money anticipates ETH to head next. 

Institutions Are Doubling Down on ETH

ETH accumulation has also experienced a significant uptick at the institutional level as many large corporations double down on the leading altcoin. Lookonchain, a on-chain platform, reported that Trend Research, an investment firm specialized in secondary markets, is still stacking up USDT to purchase more ETH. 

After a period of steady acquisition, Trend Research has now amassed over 601,074 ETH worth a whopping $1.83 billion. This action demonstrates the company’s robust conviction in Ethereum and its expanding ecosystem. 

Based on the on-chain ETH withdrawal prices from Binance, the world’s largest cryptocurrency exchange, the average purchase price of the company’s stash is $3,265 per coin. The firm has also borrowed a total of $958 million in stablecoins from the Aave blockchain to buy ETH.

Bitmine Immersion, a leading public company led by Tom Lee, has also resumed its ETH accumulation. Lookonchain highlighted that the company purchased another 44,463 ETH valued at $130 million last week. As a result, the firm now boasts of over 4,110,525 ETH worth a staggering $12 billion.