TLDR:
A whale spent over $220M on Ethereum and staked it all through Lido amid price weakness.
Accumulation continues even with $5M in unrealized losses, showing long-term conviction.
ETH addresses holding 1K–10K tokens added 500K ETH since mid-2024, per CryptoRank.
ETH’s bullish flag pattern may target $8K as the macro setup aligns with whale behavior.
Ethereum’s recent market dip has not discouraged deep-pocketed investors. On the contrary, activity from major holders suggests long-term confidence remains firm.
Institutions are buying large amounts of ETH, staking them, and continuing to acquire even amid price weakness. This signals a broader strategy of accumulation and staking rather than short-term speculation.
Ethereum’s current price trend appears to be less influential on these whale moves than its long-term potential.
Whale Buys Over $220M in Ethereum
According to Spot On Chain, one institution has spent more than $220 million USDC to purchase 85,465 ETH over the past week.
This institution—with $30M+ in realized $ETH profits—has spent $220.82M $USDC to acquire 85,465 $ETH (avg: $2,584) via OTC deals with #Wintermute and #Coinbase over the past week!
Its latest buy? 15,000 $ETH for $37.16M at $2,477 ~10hrs ago.
Despite a floating loss of $4.97M… https://t.co/c2bFs4bYDj pic.twitter.com/V8b8xHqAJS
— Spot On Chain (@spotonchain) June 18, 2025
The purchases were made through over-the-counter transactions with Coinbase and Wintermute, averaging $2,584 per ETH. Despite a current unrealized loss of nearly $5 million, the entity recently bought another 15,000 ETH for $37.16 million at a price of $2,477.
This address has also deployed all 85,465 ETH into Lido for staking. Additionally, the whale holds $112.94 million in USDC on Aave, indicating potential for further purchases.
The combination of staking and idle stablecoins suggests a calculated long-term approach to Ethereum, not a short-term trade.
CryptoRank.io data indicates that whale accumulation of ETH has sharply increased since mid-2024. Addresses holding between 1,000 and 10,000 ETH have reportedly added more than 500,000 ETH during this period. This trend shows no sign of slowing, with accumulation intensifying over recent days.
Whales Are Actively Accumulating #Ethereum
Since the second half of 2024, whales have been accumulating $ETH, and this trend has accelerated sharply in recent days. pic.twitter.com/XSOW9KeikV
— CryptoRank.io (@CryptoRank_io) June 17, 2025
These addresses are typically long-term holders, and such accumulation during price weakness often signals confidence in future price recovery. The move aligns with broader institutional interest in staking and Ethereum’s evolving role in decentralized finance.
ETH Technical Chart Points to Macro Breakout
Bitcoinsensus reports that Ethereum’s long-term price chart is forming a macro bullish flag pattern.
This structure began in 2021 and has historically led to strong rallies from each support touchpoint. Ethereum is now approaching the breakout zone of this pattern, which projects a potential target of $8,000.
While ETH is currently trading around $2,531, the technical setup suggests room for sharp upside. The chart shows Ethereum in a potential rally phase, supported by whale activity and continued staking behavior.
Despite the strong accumulation, Ethereum has faced near-term pressure. According to CoinGecko, ETH dropped 2.47% in the past 24 hours and 9.38% over the last week. Still, the presence of long-term buyers during this decline reflects strong institutional conviction.
