- Ethereum whales accumulated over $265M in ETH during June’s dip, pushing mega-wallet holdings to 41.4 million ETH total.
- Net whale activity peaked with 600K ETH bought in early June before shifting to distribution, closely mirroring ETH price movements.
- Long-term accumulation wallets surged from 12M to 22.8M ETH by 2025, reflecting unwavering conviction through multiple market cycles.
As per analyst Ted’s data, Ethereum whales recently acquired over $265 million in ETH during a price dip on June 21. From April 10 to June 19, Ethereum traded between $1,000 and $3,000. During this period, whale wallets holding over 10,000 ETH increased their supply from 40.3 million to 41.4 million ETH. Notably, early April recorded 200,000 ETH in net purchases. By late April, net accumulation surged past 400,000 ETH.
Source: Ted
Whale Behavior Reflects Strategic Positioning
In May, whale behavior turned unpredictable. They alternated between buying and selling, with position changes ranging from -100,000 to +500,000 ETH. Consequently, the market witnessed high volatility. In early June, whales bought 600,000 ETH in a sharp spike. This activity preceded a rally that took ETH close to $3,000.
However, by mid-June, net position changes dropped to -100,000 ETH. This shift marked the beginning of a distribution phase. Besides, ETH prices pulled back from the recent highs, showing a clear link between whale behavior and price direction.
Moreover, current whale activity shows consolidation. Net positions have steadied following June’s aggressive accumulation. While total holdings remain high, mega-whales appear to be waiting for clearer market signals.
Accumulation Wallets Show Long-Term Strength
Meanwhile, long-term holders continue to build positions according to popular analyst data shared on X. Accumulation addresses held just 1 million ETH in 2017. Despite bear markets, balances rose steadily. By the end of 2018, these addresses held 2.5 million ETH.
Source: X
Between 2019 and 2020, holdings climbed to 3.5 million ETH. The 2021 bull run pushed balances to 6 million ETH as ETH hit $4,800. Even during the 2022 correction, holders added aggressively, pushing the total to 8 million ETH.
These wallets’ holdings increased to 12 million ETH during 2023. In late 2024 and early 2025, shares increased once more. The amount of ETH increased from 12 million to more than 20 million. As a result, 22.8 million ETH are currently in accumulation wallets.
