The Ethereum whales have been arrested for unloading more than 33,000 stakes of ETH, but the agency is scooping them up even more. This comes when the surge in Ethereum prices finally beat Bitcoin's performance last week.
The biggest Altcoin, Ethereum, saw more than 3% jumps in the last 24 hours, but the price of BTC rose slightly. Global crypto market capitalization jumped slightly to reach $3.38 trillion in anticipation of a resolution in the tariff war. Despite recent sales, fear and greedy indicators flush “neutral” emotions among investors.
Whales are selling well, so it's up 7%
According to data shared by Lookonchain, the whale, which initially purchased 132,536 ETH for $333.79 million, offloaded 33,585 STETH for $85.338 million. According to On-Chain Tracker, the sale averaged $2,542.2. Despite this off-road, it still holds 100,000 ETH (worth around $260 million), many of which are betting.
The whale reportedly achieved more than $30 million in overall profits. The address may be linked to the Alliance DAO, suggesting that this move could be more like a portfolio rotation than a bear signal.
Whale/engine is buying $eth.
Wallet 0xfc82 (probably linked to Cumberland) retracted $34,883 ($89.45m) from #binance last week.
Wallet 0x3C9E retracted $7,200 eth ($18.37m) from #kraken last week. https://t.co/fqx0fapcaphttps://t.co/vmjwggrslj pic.twitter.com/hzirgyro8xx
– lookonchain (@lookonchain) July 9, 2025
Meanwhile, other institutional actors appear to be actively accumulating Ethereum. Wallet 0xFC82, which is likely linked to Cumberland, has withdrawn 34,883 ETH (worth about $89.45 million) from Binance this week. However, Wallet 0x3C9E has withdrawn 7,200 ETH (approximately $18.37 million) from Kraken. The increase in whale holdings indicates that smart money is not eliminating ETH, but it's piling up even more.
Ethereum prices have risen by about 7% in the past seven days, while Bitcoin prices have risen by 1%. ETH trades at the time of press for an average price of $2,616. Its 24-hour trading volume is around $18 billion. Meanwhile, ether is down 46% from its all-time high of $4,891, recorded on November 16, 2021.
ETH Whale Holdings Spikes 9%
According to GlassNode data, Mega whale wallets, which hold at least 10,000 ETH, have increased their holdings by 9.31% over the past nine months. This is a jump from 37.56 million ETH in October 2024 to 41.06 million ETH as of July 2025. This shows the highest concentration of ETH among large holders since 2020. The scale and timing of these large purchases could be that agency actors are preparing for potential breakouts.
This doesn't look like a retail FOMO, as the main support zones are formed between $2,500 and $2,536. This zone may currently serve as a price range.
GlassNode also shared that the SOL/ETH ratio peaked at 0.0868 in April and then decreased to MARK 0.0586. This is considered one of the lowest levels this year, suggesting Solana's unperformance. Meanwhile, the past seven days have shown that $8.3 billion of new capital has flowed into Solana against $6.2 billion in ether.
The #sol/#ETH ratio peaked at 0.0868 in April and then dropped to one of the lowest levels of the year, 0.0586, signaling $SOL Underperformance. However, over the past seven days, new capital inflows have been similar. Sol shows stronger momentum, with $8.3 billion to $6.2 billion. pic.twitter.com/8ooyyh7qbl
– GlassNode (@GlassNode) July 8, 2025
In the accumulation, Ethereum co-founder Vitalik Buterin is reportedly preparing a new initiative to save Ethereum's soul. Details remain under the wrap, but speculation suggests an upgrade aimed at rectifying decentralisation and governance concerns. In his new blog, Vitalik shared why he prefers tolerant licensing, and now why he prefers CopyLeft.
