- Ethereum Foundation’s silent $20M transfer and lack of sales suggest strategic accumulation amid rising whale staking activity.
- Institutional ETH buys and June’s record-high network usage signal growing investor confidence and ecosystem revival.
- Vitalik’s small DOG swap, steady Layer 2 growth, and whale movements reinforce Ethereum’s long-term bullish momentum.
The Ethereum Foundation has moved $20 million worth of ETH to a previously inactive wallet, according to Arkham Intelligence. This wallet, which saw consistent inflows over the last two months, has only sent $2.50 worth of ETH to Vitalik Buterin. The transfer’s purpose remains unclear, raising questions about its connection to upcoming network decisions or legal matters involving Tornado Cash co-founder Roman Storm.
Besides this transfer, Vitalik.eth swapped 2 trillion DOG tokens for 4.43 ETH, valued at around $10,800, according to PeckShield. On-chain data indicate that institutions and whales continue to accumulate ETH. SharpLink Gaming recently bought 1,989 ETH, adding to their earlier purchase of 188,478 ETH. Additionally, a whale address identified as 0x1fc7 purchased 1,888 ETH and staked it shortly after acquiring 3,201 ETH last week.
None of the ETH moved by the Ethereum Foundation wallet has been sold, despite the two-month holding period. Moreover, this wallet activity coincides with a broader uptick in Ethereum network usage. On June 25, Ethereum recorded 1,750,940 confirmed transactions—the third-highest daily total in its history. This spike follows months of declining transaction volume and may signal a major on-chain revival.
Source: CryptoQuant
Whale Moves Align with Accumulation
These whale purchases signal growing confidence in Ethereum’s long-term potential. They also show a pattern of staking behavior among large holders. Furthermore, the Ethereum Foundation’s silent wallet move, without sales, may indicate a strategic reserve or preparation for funding upcoming initiatives.
Historically, Foundation sales have been perceived as bearish triggers. However, the absence of liquidation now hints at a change in strategy. It could suggest a pivot toward long-term holding or project-specific allocations.
Ethereum’s rising network activity indicates that real usage is growing. Traders, DeFi platforms, and arbitrage bots are contributing to the surge. Layer 2 networks like Arbitrum and Optimism also show rising throughput, supporting the broader Ethereum ecosystem.
