- Whale activity spiked, with over 120,000 ETH acquired in just three days.
- One whale withdrew 4,511 ETH from OKX and deposited it into Aave.
- Analysts predict Ethereum will reach $4,000 by 2025 despite its current downward market trend.
Ethereum maintains significant price pressure as its market value remains capped under $2,000 because of current market selling activity. The asset benefits from growing confidence by investors who possess assets in significant quantities known as whales.
On March 21 crypto analyst Ali Martinez reported that Ethereum whales started to actively accumulate the coin as this new activity boosted whale holding stats. Ethereum’s price dropped beyond $2,000 which created an ideal opportunity for major token holders to accumulate additional Ethereum. The buying spree of whales during three consecutive days resulted in them spending over 120,000 ETH worth approximately $236 million.
The on-chain data supports this surge in whale activity, with some whales buying significant amounts of Ether. For instance, one whale bought 7,074 ETH worth over $13.8 million. Additionally, the whale withdrew 4,511 ETH from the crypto exchange OKX and deposited the funds into the decentralized finance platform Aave.
Whale Strategy Includes Borrowing and Buying ETH
One whale made several strategic moves in the past few days. This whale withdrew over $8.8 million in ETH funds from OKX before transferring them into Aave which stands as a main decentralization finance service. Aave provided 5 million USDT to the whale through their lending services after which they used the funds to acquire additional ETH. The whale’s successive actions demonstrate growing Ethereum market optimism from large-scale investors.
Throughout this time Ethereum prices moved between $1,872 and $2,060 dollars while the market demonstrated significant fluctuations. The token price for ETH has maintained a stable yet unsteady pattern at the current level of $1,966 following its previous price rally.
Ethereum’s Market Outlook
Whales exhibit rising ETH buying patterns because they anticipate future price appreciations despite Ethereum maintaining stability in its market performance. Standard Chartered analysts recently updated their Ethereum price estimation which predicted $4,000 as its value for 2025.
Although Ethereum has experienced a 27% market correction during the previous month, whale investors maintain their buying pattern which indicates they are preparing for potential upcoming price appreciation. Ethereum’s long-term growth potential receives backing from whales who continue to invest during periods of short-term price reduction.
