Ethereum Whales Go on Massive ETH Stacking Spree—Bullish Signals Flash for Major Upside
Ethereum’s biggest players are loading up—again. Whale wallets have been accumulating ETH at a pace that’s turning heads across crypto markets. Are they seeing something the rest of us aren’t?
Behind the Buying Frenzy
Large-scale accumulation by high-net-worth holders often precedes big price moves. This isn’t retail FOMO—it’s strategic positioning. Whale activity has historically correlated with momentum shifts, and right now, the signals are leaning bullish.
Timing the Tide
While some traders chase micro-trends, whales play the macro game. Their recent stacking behavior suggests confidence in Ethereum’s mid-term trajectory—and a potential bet against short-term volatility. Because why sweat the dips when you’re building a long-term vault?
Of course, in crypto, even whale moves can sometimes just be… well, whales moving money between their own wallets. But hey, it keeps the rest of us entertained.
Ethereum ETF flows
Exchange-traded funds are playing a key role in Ethereum’s bullish feedback loop, reflected in ETH ETF netflows since August.
Ethereum’s inflows tower over Bitcoin’s, with $3.87 billion in August and $1.08 billion last week, compared to Bitcoin’s outflows of $751.12 million in August and inflows of $440.71 million last week. The last three days, however, have seen significant outflows for Ethereum ETFs, adding to the uncertain short-term outlook due to growing macroeconomic concerns.
The broader Optimism and positive sentiment surrounding Ethereum are largely driven by accumulation from the digital asset treasury.
Ether Machine raised $654 million on September 2, following $800 million in financing, including a $741 million contribution of 169,984 ETH from Co-Founder and Chairman Andrew Keys.
The macro environment supports this bullish outlook, said Lee, arguing that, “The anticipation of a Federal Reserve rate cut in September strengthens risk-on sentiment, creating favorable conditions for digital assets.”
Speaking to Decrypt, Andrew Melville, head of research at crypto derivatives analytics platform Block Scholes, argued that “ETH and all altcoins with a DeFi ecosystem are well-positioned to take advantage of the positive regulatory stance in the U.S. because they have an ecosystem that stands to benefit from regulation.”
Despite Ethereum’s short-term macroeconomic risks, Tom Lee, BitMine chairman and Fundstrat’s Chief Investment Officer, referred to ETH’s four-year consolidation or base as the most “compelling opportunities into year-end,” in Fundstrat’s Macro Minute on September 2.
Based on Wyckoff’s methodology, Lee expects a breakout from the ongoing base to trigger a massive upside for Ethereum. “The bigger the base, the bigger the breakout,” Lee said, noting that the previous base catalyzed a 54x gain for ETH. This time, he said, “I don’t know if it’s 54x, but again, just look at the base and the breakout.”
