- Machi Big Brother increases his ETH long as whale activity rises across major wallets during the latest market pullback.
- Major wallets such as BitMine and 66kETHBorrow keep accumulating large ETH amounts despite ongoing volatility.
- Long term holders increase their ETH selling at the fastest pace since 2021 while support forms near the $3150 level.
Whale activity has intensified across major ethereum wallets. The action unfolded on multiple fronts as Machi Big Brother raised his leverage. The moves happen while ETH struggled after a sharp pullback. This created fresh debate about whether the market now sits near a major support level. The activity also revealed how large players reacted differently to the current volatility.
Arkham revealed Machi Big Brother latest leveraged bet whereby he added a margin worth $2.7 million on Hyperliquid. He now holds a $23.8 million ETH long at roughly 15x. His PnL sits near negative $1.9 million.
Arkham data further shows portfolio around $531,283. It fell by about 1.83 percent in the last day. His largest position is FRIEND. He holds 11 million tokens worth about $262,000. It dropped roughly 12.66 percent. CREAM followed next with $171,590 in value. It rose by about 23.89 percent.
Smaller positions included USDT, ETH, BNB, POODLE, and J3FF. His long-term chart showed strong swings. His balance once touched nearly $70 million. It then dropped sharply after mid 2024.
Whales Accumulate ETH Despite Decline
Additionally, Lookonchain highlighted fresh accumulation from BitMine Immersion Technologies. The new wallet received 9,176 ETH from a Galaxy Digital OTC address. The stack is worth around $29.14 million. The firm remains active as markets weaken. Moreover, celebrity trader Jeffrey Huang and his brother also maintain ETH longs. Both trades sit in the red.
Consequently, whale investor 66kETHBorrow increased exposure again. He added 16,937 ETH worth $53.91 million. His total buying reached 422,175 ETH worth about $1.34 billion. This trend signaled strong conviction from heavy players.
Glassnode offered another angle. The firm observed sharp spending from wallets holding ETH for three to ten years. They distributed more than 45,000 ETH per day on a ninety day trend. This marked the highest level since February 2021. However, analyst Ali Martinez pointed to strong support. He noted that traders bought 2.53 million ETH around $3,150.
