Ethereum Whales Accumulate as Price Drops Below Key Levels

Ethereum Whale Activity Highlights:

ETH is trading around $2,895, down 9.5% in the past week.
Large holders are buying heavily despite weak price action.
An OTC whale acquired 20,000 ETH valued at approximately $56.13 million, accumulating 70,013 ETH worth about $203.6 million over five days.
World Liberty Financial rotated exposure from BTC to ETH, swapping 93.77 WBTC for 2,868 ETH.
A wallet known for poor timing sold 5,500 ETH worth $16.02 million after purchasing 2,000 ETH days earlier.
A dormant wallet linked to Bitfinex moved 50,000 ETH to Gemini, raising concerns of potential sales.
ETH's 24-hour trading volume surged 250% to $350 billion as whale activity increased.

Indicators and Market Position:

ETH is below its 20-day ($3,050) and 50-day ($3,100) moving averages.
Whales accumulated over 350,000 ETH in one day last week.
The realized price for major accumulation addresses aligns with current market levels.

Ethereum’s realized price for accumulation addresses. | Source: CryptoQuant

Ethereum’s balance on accumulation addresses. | Source: CryptoQuant

Bitcoin Hyper Developments:

Bitcoin Hyper raised over $31 million during its presale phase.
Focuses on improving Bitcoin's network by enhancing transaction speed and reducing costs.
Current Price: $0.013635; Staking APY: 38%