Ethereum Whale Accumulates $39M in ETH During Market Dip
While Ethereum (ETH) saw a steeper decline than Bitcoin (BTC) – dropping 12.80% to $2,155 within 24 hours – a prominent investor purchased $39 million worth of ETH. This substantial accumulation reflects a broader trend where major holders acquired over 116,000 ETH valued at $265.30 million, demonstrating strong confidence in ETH’s recovery potential. Technical indicators suggest ETH could rebound 25% to $2,735, supported by historical patterns where similar market conditions preceded significant rallies. The buying activity occurred during market turbulence following U.S. airstrikes in Iran, suggesting experienced investors view the dip as a strategic entry point rather than cause for concern.
Market Performance and Whale Activity
The investor, identified by wallet address 0x7355…213, acquired approximately 9,400 ETH in two transactions on June 22, increasing their total ETH holdings to $330 million. This accumulation happened despite ETH underperforming most major cryptocurrencies, including Bitcoin which declined just 4.70% during the same period. Glassnode data reveals similar confidence among large ETH holders, with wallets containing 10,000+ ETH increasing their positions both before and after the geopolitical events.
Technical Indicators Suggest Recovery Potential
Market analyst Sensei notes ETH remains above a crucial support trendline that historically precedes significant rebounds. In April-May 2025, this same support level triggered a 55% price surge. Current patterns suggest ETH could potentially reach $2,735 in the near term, representing a 25% increase from current levels. The whale activity and technical signals combine to paint an optimistic picture for ETH’s short-term trajectory despite recent market volatility.
