Ethereum Whales Make Stunning Comeback After Massive $1.36M ETH Sell-Off
Whale watching just got interesting again.
The Big Players Return
After dumping $1.36 million worth of ETH in what looked like a classic panic move, Ethereum's largest holders are swimming back into position. The sell-off that had retail investors sweating turned out to be nothing more than a temporary blip.
Confidence Resurfaces
These deep-pocketed traders aren't just dipping toes back in—they're diving headfirst. The same whales who triggered market jitters with their massive sell-off are now accumulating at levels that suggest they know something the rest of us don't.
Market Dynamics Shift
While traditional finance types were busy calculating risk-adjusted returns and worrying about regulatory overreach, crypto's smart money was busy buying the dip. Because nothing says 'I believe in this technology' like timing the market perfectly.
The whales have spoken—and they're betting big on Ethereum's comeback story.
- Ethereum whales resume buying, signaling renewed confidence after weeks of selling pressure.
- On-chain data shows major wallets accumulating ETH again, hinting at market stabilization.
- Rising network activity and stablecoin volume reinforce optimism for Ethereum’s next rally.
The ethereum whales that were selling weeks ago are now buying. The fact that they’re building up again says something about the market’s attitude. For Ethereum, it has been a modest gain over the past one week after an extended profit-taking session.
The move is coming amid growing investor optimism, as Bitcoin continues around $111,744 and the total market capitalization for all cryptocurrencies in existence to over $3.76 trillion.
Santiment on-chain analysis shows 100 to 10,000 wallet count ETH in the accumulation stage. It was the big holders that sold, 1.36 million ETH was sold between October 5 and 16. They have since repurchased nearly a sixth of what they sold.
Ethereum whales and sharks holding between 100 to 10,000 $ETH are finally showing some signs of confidence. After -1.36M was dumped by this group between October 5th and 16th, they have added back close to 1/6th of it since. Positive sign for crypto's #2 market cap. pic.twitter.com/tg1BWu60Lq
Whale Moves Signal Growing Ethereum Confidence
The whale activity has perked up and that’s a big difference. Large players have a tendency to reverse the intimate market cycles that dictate to the bigger trader which way its going. The slight gain of Ethereum is in the same trend.
Some whale wallets have made huge maneuvers. At least one of those big addresses, which is identified as 0x395, moved 12,000 ETH—equivalent to about $46.3 million—from Binance in Oct. Withdrawal was made at average $3,854. The wallet still holds about 68,000 ETH which is worth around $264 million at current prices.
Whales are scooping up $ETH in the past 24 hours!
1⃣ Whale “0x395” withdrew 12,000 $ETH ($46.3M) from #Binance ~18hrs ago at $3,854/ETH. Now holds 67,981 $ETH ($264M).
This whale accumulated $ETH at $3,027 avg from Jun 22 to Aug 12, then offloaded at $4,218 avg from Sep 15… pic.twitter.com/jEHP3XA7om
The same wallet had previously bought Ethereum at an average price of ranged $3,000 – 3,027 in June August, the data shows. It later sold a portion of its holdings as September and early October ticked by, around 4,218. Perhaps the recent pullback can be a tipping point to the accumulation. It’s a trend that fits into the broader approach of long-term investors adding to their share of the market when everything appears gloomic.
Big Holders Bet on Ethereum
Another hefty Ethereum whale wallet, the 0x86E, did something similar recently. On October 23, it moved 8,491 ETH — valued then at about $32.5 million — out of the small splinters of crypto exchange OKX.
This coordinated trading among the biggest holders indicates a surge in whale buying on various exchanges. Onchain data from late October validates an increase in purchases at high thresholds, carried out by significant investors.
CoinGlass data indicate an increase of trading activity for Ethereum. There was a steep surge in inflows and outflows around the middle of October.
Source: Coinglass
Regular transfers from centralized exchanges to private wallets also suggests investors prefer holding rather than trading over the short term. This is consistent with the accumulation phase, when confidence starts to recover and coins are slowly taken out of the market.
Ethereum is still range-bound despite wild fluctuations. ETH has slipped over 11% in the last 60 days after testing towards support at $3,738 briefly. The token has since recovered to about $3,945 on the back of a 24-hour trading volume reaching $27.5 billion.
For market analysts, this stabilization is seen as a cautious but optimistic indication that we are seeing investor interest return, and some level of base set for continued growth in the Ethereum ecosystem.
