Whales Are Accumulating Ethereum

🔷Despite ETH recently falling below $3,400, major investors continue to increase their holdings. According to Arkham, one anonymous address acquired $300 million worth of Ethereum through OTC deals with Galaxy Digital. Meanwhile, the number of “mega whales” — wallets holding more than 10,000 ETH — has significantly increased since early July, pointing to sustained institutional and ETF-driven interest.
🔷A key driver is BlackRock’s iShares Ethereum Trust, which attracted $1.7 billion in just 10 days. Although August is traditionally a challenging month for crypto, the growing interest from large players and ETH’s recovery to $3,561 may signal the beginning of a new upward momentum.