Ethereum Whale Accumulates $1.33B in ETH Since November 4
Ethereum Consolidation and Whale Activity
Ethereum is stabilizing around $3,500 after recent market turbulence due to macroeconomic factors and US government shutdown fears. Despite cautious sentiment, on-chain data indicates that large holders, or "whales," are accumulating Ethereum. This suggests confidence among long-term investors, even as broader market momentum slows.
- Whales are increasing their Ethereum positions significantly, signaling a strategic accumulation during price downturns.
- A whale recently purchased 30,548 ETH ($105.36 million), bringing total acquisitions since November 4 to 385,718 ETH ($1.33 billion).
- Approximately $270 million of these purchases were financed through Aave, indicating leveraged positioning.
This behavior demonstrates strong institutional confidence in Ethereum’s medium-term outlook and reflects increased demand for Ethereum exposure within decentralized finance (DeFi). Such activity could absorb market liquidity, strengthen psychological support zones, and shift retail investor sentiment positively. However, it also introduces potential short-term risk due to volatility from leveraged positions.
Market Indicators and Price Trends
Ethereum shows signs of stabilization, trading around $3,479, with the daily chart showing ETH above the 200-day moving average — historically a bullish support level. Despite this, the short-term trend remains downward, with resistance at $3,650–$3,700. A decisive close above this range could lead to recovery toward $4,000.
- The 50-day and 100-day moving averages remain above current prices, indicating potential short-term challenges for bulls.
- If Ethereum fails to hold the $3,400–$3,450 zone, support near $3,200 may be tested.
- Volume data suggests selling pressure is easing, yet momentum is weak.
Overall, Ethereum is in a consolidation phase with whales accumulating, while retail traders remain cautious — a setup often seen before significant market moves.