FalconX Exchange Sees $397M Ethereum Whale Purchase Amid Surging Institutional Demand

Ethereum's market dynamics are showing strong bullish signals as institutional players aggressively accumulate ETH. Whales have purchased over 150,000 ETH ($560 million) in just four days, including a single wallet that amassed $397 million through FalconX. This surge in accumulation aligns with Bitwise CIO's analysis, which indicates post-ETF demand is outpacing new supply by 32 times since mid-May.

The cryptocurrency is currently testing critical resistance at $3,800 after a 160% three-month rally. Technical patterns suggest a potential breakout toward $5,200 if the upper boundary of a multi-year triangle formation is breached. ETH ETFs recorded $296.5 million in net inflows on Tuesday, marking twelve consecutive days of positive flows.

Notable accumulation includes SharpLink Gaming's recent purchase of 79,949 ETH, earning them the nickname 'MicroStrategy of Ethereum.' Their holdings now total 360,807 ETH, a 29% increase in their portfolio. The market structure appears primed for volatility, with supply constraints meeting relentless institutional demand.