Ether whales are still stacking up on Ethereum like it’s going out of style, even as ETH bounces back from a slight weekend dip. Onchain analysts have been watching these whales with keen interest, and it’s clear that somebody has deep pockets. Blockchain analytics firm Arkham Intelligence revealed on Sunday that a whale address had scooped up a cool $300 million worth of ETH over-the-counter (OTC) through Galaxy Digital.
Right now, that address holds a staggering 79,461 ETH, worth approximately $282.5 million. Talk about a heavy hitter!
BlackRock Joins the Whale Party
It’s not just random big fish swimming in the Ethereum pond, BlackRock’s in the mix too. Their iShares Ethereum Trust ETF saw a massive $1.7 billion in inflows over the last 10 consecutive trading days. Just try keeping up with that kind of buying power.
And if you’re thinking that’s where the action stops, think again. Onchain holdings of Ether in exchange-traded funds (ETFs) have been soaring, with a 40% surge over the past month alone, according to Dune Analytics. Looks like ETH is gaining some serious institutional interest.
ETH Whale Count on the Rise
The mega whales, those addresses holding more than 10,000 ETH, have also been multiplying. Over the last 30 days, more than 200 new mega whale addresses have popped up. These include not just exchanges and custodians, but also those holding exchange-traded products. Seems like everybody’s getting in on the action.
ETH Price Making Moves
Ether’s price took a bit of a dive over the weekend, slipping below $3,400, but it didn’t take long to bounce back. By Monday, ETH had reclaimed $3,560, showing that it’s not going down without a fight.
Monika Mlodzianowska, Director of Strategic Partnerships at CoinW exchange, thinks the potential for monetary easing could give crypto the boost it needs.
"With the labor market cooling down, liquidity expectations are shifting, which could soon reverse the sell-off," she said.
Sounds like a bullish tailwind might be on the way.
ETH’s August Struggles
Now, while it’s all sunshine and rainbows for Ethereum holders right now, let’s not forget that August hasn’t exactly been kind to ETH in the past. Much like Bitcoin, which tends to have a bearish August, Ether has had its share of losses over the last three years. In 2023 and 2024, ETH saw double-digit drops in August, but let’s not forget the 35.6% jump in August 2021 during the bull market. So, will ETH be hitting new highs this August, or is it just another year for a dip?
And just in case you missed it, over the weekend, Eric Trump threw his two cents in, telling his followers on X to buy the ETH dip.
Let me say it again:
— Eric Trump (@EricTrump) August 2, 2025
₿uy the dips!!! $BTC $ETH https://t.co/VSOvTgnlOT
Meanwhile, CNBC wasn’t shy about calling Ethereum “Wall Street’s invisible backbone.” Seems like everyone’s got their eyes on ETH these days.
Tanya Petrusenko
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