- Ethereum whales have added huge amounts of ETH, but prices have moved down instead of going up which has confused many traders.
- Some believe large investors are buying off exchanges or ETFs are increasing holdings, which could mean a delayed price effect.
- If Ethereum moves past key levels, then the market could see a breakout, but it must overcome current resistance to gain momentum.
The whales have been on a buying spree, accumulating over 600,000 ETH in just the past week. Despite this massive influx of demand, the token’s value has struggled, currently sitting at $2,627 as of February 9, 2025. Large wallet holders, controlling 10K to 100,000 ETH, have seen their balances surge from 16.316M ETH on February 2 to 16.988M ETH just a week later. However, Ethereum has continued to face downward pressure instead of a price rally.
Whale Accumulation vs. Price Drop—A Paradox?
On February 2, 2025, Ethereum’s price was higher at $2,867, while whale balances stood at 16.316M ETH. Fast-forward to February 9, and these balances jumped by 672,000 ETH, yet the price dropped by nearly $240. This suggests that the recent whale accumulation is happening through off-exchange transactions (OTC) or being countered by sell pressure in the broader market.
The trend mirrors what has been seen in Ethereum ETFs, where billions have been absorbed, yet the market price hasn’t reacted as expected. This suggests large buyers, possibly institutions or ETFs, are accumulating Ethereum in ways that do not immediately impact exchange liquidity. The significant increase in large holder balances indicates confidence in ETH’s long-term potential despite short-term price action.
What’s Next for Ethereum?
Ethereum’s current price action presents a bullish divergence—whales are buying, yet the market isn’t reacting… yet. Ethereum could experience a delayed supply crunch if accumulation continues at this scale, leading to a breakout in the coming weeks.
However, short-term price action suggests Ethereum needs to reclaim $2,700 to confirm a bullish trend. Until then, traders should remain cautious and watch for further institutional movements.
Will Ethereum’s price catch up with whale accumulation? Only time will tell, but history suggests that smart money tends to win in the long run.
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