Mysterious Whale Gobbles Up $1.34B in Ethereum in Just Over a Week – Here’s What Happened

A crypto whale just made waves—swallowing $1.34 billion worth of Ethereum in a lightning-fast eight-day buying spree. While retail investors were busy chasing memecoins, this anonymous player quietly stacked ETH like it was going out of style.

The Whale’s Feeding Frenzy

No dips, no hesitation—just relentless accumulation. The move screams institutional-grade confidence (or another hedge fund playing with funny money). Either way, it’s a bullish signal wrapped in a mystery.

Why Ethereum? Why Now?

With ETH’s fundamentals stronger than ever—DeFi, layer-2 scaling, and that sweet, sweet staking yield—smart money’s betting big. Or maybe they just got tired of watching TradFi portfolios bleed.

One thing’s clear: When whales move, markets notice. Buckle up.

Ethereum Whale Accumulation Fuels Speculation Of Institutional Buying

According to top crypto analyst Ted Pillows, a mysterious wallet has purchased an astounding $1.34 billion worth of ethereum over the past eight days, marking one of the largest single accumulation streaks in recent months. Pillows, who has been closely tracking the wallet’s transactions, suggests the scale and consistency of these buys point toward a major institutional player or a highly capitalized entity making a long-term bet on ETH.

While the identity behind the wallet remains unknown, the activity has sparked widespread speculation across the crypto community. Some market watchers believe it could be the result of over-the-counter (OTC) deals designed to minimize market impact, while others suspect it may be a market maker firm strategically positioning ahead of a major move. The lack of public disclosure leaves the exact motive unclear, but the sheer size of the purchases underscores growing high-level confidence in Ethereum’s outlook.

Many see the whale’s buying spree as a potential catalyst that could accelerate this move, especially with exchange supply at historic lows and institutional demand surging. The coming days could prove pivotal for Ethereum’s price trajectory. If the market interprets these massive inflows as the start of a sustained institutional accumulation phase, bullish momentum could intensify rapidly.

ETH Price Analysis: Testing Resistance Near 2021 ATH

Ethereum (ETH) is trading at $4,283, posting a 0.73% gain on the weekly chart as it approaches a major resistance area NEAR its 2021 all-time highs. This surge follows a sharp rally from the $2,852 support level, which marked the breakout point for the current uptrend.

The chart shows ETH trading well above its 50-week SMA ($2,768), 100-week SMA ($2,759), and 200-week SMA ($2,441), reflecting strong bullish momentum and a firmly established long-term uptrend. The breakout above $3,860 — now acting as immediate support — confirms market strength and could serve as a base for the next leg higher.

However, the $4,300–$4,400 zone has historically been a critical inflection point. A decisive close above this range WOULD likely trigger momentum buying, opening the path toward uncharted territory and potential new all-time highs. Conversely, failure to break through could see ETH retest $3,860 or even fall back toward $3,200 if selling pressure intensifies.

Volume has picked up notably during this rally, signaling strong conviction among buyers. With fundamentals and institutional interest both strengthening, ETH’s ability to overcome this resistance could determine whether the next phase of the bull run accelerates in the coming weeks.

Featured image from Dall-E, chart from TradingView