Whale Alert: TradFi Giant Gobbles $141.6M in Ethereum via FalconX—Crypto Accumulation Frenzy Heats Up
Another institutional player just shoved its chips onto the crypto table. This time? A cool $141.6 million Ethereum buy—executed through prime brokerage FalconX—signaling TradFi’s creeping FOMO.
Whale-watchers, take note: The 'smart money' isn’t just dipping toes anymore. It’s diving headfirst into ETH accumulation, mirroring a trend that’s turning crypto’s old 'retail vs. Wall Street' narrative into a relic.
Behind the scenes: OTC desks like FalconX thrive on these quiet, block-sized deals—no slippage, no panic, just billion-dollar portfolios rebalancing under the radar. (Bonus irony: The same institutions that once called crypto a 'fraud' now pay premiums to avoid moving markets.)
The bottom line? When traditional finance starts accumulating like this, it’s either a calculated bet on Ethereum’s infrastructure dominance… or proof that even suits can’t resist a good old-fashioned bubble chase.
Whale Accumulation Signals Long-Term Confidence in Ethereum
According to Arkham Intelligence, whale address 0x86F911dEb6bB8CA5C36EdDF9eF86a9dc1F694446 has purchased $141.6 million worth of Ethereum (ETH) from FalconX over the past two days. Remarkably, the whale is already sitting on an unrealized gain of over $1 million from these buys, signaling both precision timing and strong conviction in Ethereum’s long-term potential.
This accumulation stands out as a clear indicator of Traditional Finance (TradFi) capital flowing into Ethereum, even as broader market sentiment remains cautious. The timing of these buys is especially notable, as Bitcoin is currently facing cooling momentum after an aggressive bull run, while most altcoins are still struggling below critical resistance levels. Despite this, large investors are actively positioning themselves in Ethereum, suggesting they view the current price range as an opportunity to build strategic holdings.
The ongoing whale accumulation trend reflects a broader market belief that Ethereum’s fundamentals remain solid. Institutional investors seem to be focusing on long-term drivers such as Ethereum’s leading role in DeFi, stablecoin infrastructure, and RWA tokenization, which are all gaining traction among traditional financial entities.
While short-term price action may continue to see volatility, the aggressive accumulation from addresses like 0x86F indicates that temporary corrections do not deter larger players. Instead, they are preparing for what they anticipate to be significant upside potential in the coming months. This divergence between retail caution and whale accumulation often signals pivotal moments in the market, where patient capital sets the foundation for the next major bullish phase.
Technical Details: Volatility Drives Price Action
Ethereum (ETH) is currently trading at $3,629, showing signs of hesitation after its recent rebound from a local low NEAR $3,360. The price is struggling to reclaim the 100-period SMA (green line) at $3,689, which has acted as dynamic resistance in recent sessions. The 50-period SMA (blue line) at $3,641 is providing some support, but overall momentum remains fragile, with lower highs forming since the rejection at the $3,860 resistance level.
Volume has notably decreased during the recent recovery attempt, indicating a lack of strong bullish conviction. This low-volume bounce suggests that buyers are cautious, and sellers may take advantage of any weakness to push ETH lower.
If Ethereum fails to break above $3,689 and reclaim the $3,700 zone, the bearish scenario could intensify, with price targets potentially revisiting the $3,360 support area. On the upside, a clean breakout above $3,700 with strong volume could set the stage for another test of the $3,860 resistance.
Featured image from Dall-E, chart from TradingView
