Ethereum Whales Scoop Up Over $350 Million in ETH Ahead of December’s Fusaka Upgrade
- Why Are Whales Gobbling Up Ethereum at Current Prices?
- The $3,000-$3,400 Support Zone: Make or Break for ETH?
- Fusaka Upgrade: Ethereum's Performance Era Begins December 3
- Institutional Interest Hits 18-Month High
- Technical Outlook: Path to $4,500?
- FAQ: Ethereum Whale Activity & Fusaka Upgrade
As Ethereum's price dipped below $3,200 this week, deep-pocketed investors went on a buying spree, accumulating over $350 million worth of ETH in what analysts believe could be positioning before the network's major Fusaka upgrade scheduled for December 3, 2025. On-chain data reveals strategic accumulation patterns reminiscent of previous cycle bottoms, with institutional interest in ethereum surging 57% month-over-month in spot markets. The BTCC research team notes these whale movements often precede significant price rallies, especially when coinciding with fundamental network improvements.
Why Are Whales Gobbling Up Ethereum at Current Prices?
Arkham Intelligence reports two particularly aggressive accumulators: one new wallet acquired 20,000 ETH ($70M) via Kraken transfers, while another scooped up AAVE-ETH positions worth $206 million. Etherscan data shows Galaxy Digital facilitated an OTC purchase of 24,007 ETH ($82M). "This isn't random profit-taking - it's strategic positioning," notes a BTCC market analyst. "When you see this volume of OTC deals during price dips, it typically signals institutional players building long-term positions."
The $3,000-$3,400 Support Zone: Make or Break for ETH?
CryptoQuant's ShayanMarkets identifies critical support forming between $3,000-$3,400, where whale activity intensified dramatically. Historical patterns suggest such accumulation phases often precede rallies - in 2023, similar behavior preceded ETH's climb from $1,800 to $4,800. "Retail investors remain cautious, but institutions are voting with their wallets," observes the analyst. Current derivatives data shows open interest rising 23% week-over-week despite price volatility.
Fusaka Upgrade: Ethereum's Performance Era Begins December 3
The impending network overhaul will:
- Increase block gas limit from 30M to 150M (5x capacity)
- Double blob transaction throughput
- Reduce Layer 2 fees by ~40%
- Implement 12+ EIPs for enhanced security
Institutional Interest Hits 18-Month High
CoinMarketCap data shows:
| Metric | Change |
|---|---|
| Spot Volume (30d) | +57% |
| Whale Holdings (Q2-Q4) | +7.6M ETH |
| Staked ETH | 34.2% of supply |
Technical Outlook: Path to $4,500?
If the $3,400 support holds, analysts see:
- Consolidation through November
- Pre-upgrade volatility early December
- Potential breakout toward $4,500-$4,800 in Q1 2026
FAQ: Ethereum Whale Activity & Fusaka Upgrade
How much ETH have whales bought recently?
Over $350 million worth since the price dipped below $3,200, including a single $206 million AAVE-ETH purchase.
What's special about the Fusaka upgrade?
Scheduled for December 3, 2025, it will significantly improve transaction speed (TPS), reduce fees, and increase network capacity through multiple EIP implementations.
Why are institutions accumulating ETH now?
Historical patterns show smart money often accumulates before major network upgrades, anticipating improved fundamentals will drive price appreciation.
Where can I track whale movements?
On-chain analytics platforms like Arkham Intelligence and Etherscan provide real-time wallet tracking (though Kraken and Galaxy Digital were mentioned in recent large transactions).
