Multiple Ethereum whales have significantly increased their holdings by acquiring 394,682 ETH worth $1.37 billion over the past three days.
According to on-chain data, the strategic accumulation suggests a strong bullish momentum in Ethereum’s long-term potential, despite current market fluctuations.
Source: LookonchainPer the detailed analysis, the largest buyer was an address that had previously borrowed 66,000 ETH from Aave. The whale has now repurchased 257,543 ETH at approximately $3,480, for a total of $896 million.
Besides, Bitmine, 7 Siblings, OTC traders and various new wallets have increased their ETH positions recently during the market correction.
Analysts Bullish on ETH’s Long-Term Prospects
Analysts are closely watching the recent massive whale accumulation, as they often precede significant market shifts. Analysts believe Ethereum could soon prepare for a strong rebound to new all-time highs, targeting up to $10,000.
Ethereum is currently trading at 3,421 at press time, a 3.72% increase over the past 24 hours. On the technical front, the momentum indicators show a bullish uptrend following recent short liquidations and institutional interest signals.
According to Indian crypto exchange CoinDCX, ETH is eyeing a promising $4,800 target and would soon hit $5K.
“Backed by network scalability improvements and rising institutional adoption, Ethereum price prediction models indicate a potential 25-30% upside by late 2025,” the exchange analysts wrote in a blog.
Lacie Zhang, Research Analyst at Bitget Wallet told Cryptonews that crypto markets are entering what can best be described as a “cautious calm.”’
“If macro data trends favorably, Ethereum may approach $4,200,” Zhang noted, adding that several factors could shape near-term direction.
Institutional Catalysts Have Bullish Impact on ETH
With anticipation built for December’s Fusaka upgrade, ETH has also attracted strong institutional interest. For instance, the on-chain data noted that Bitmine has added 40,719 ETH, worth nearly $140 million.
Analyst Ted Pillows noted that Bitmine’s ongoing ETH buys, reportedly ranging between $200 million and $300 million weekly, may tighten supply faster.
“A few more whales like BitMine, and the market’s tone could change overnight,” he said.
According to Zhang, the consolidation period is “constructive.”
“It flushes out leverage and speculative excess, creating the foundation for long-term growth and institutional re-entry.”
The post Ethereum Whales Snap Nearly 400K ETH in Three Days, Total Purchases Exceed $1.37B appeared first on Cryptonews.
