- Big Ethereum holders are moving huge amounts of money as prices climb past $4,600, showing both excitement and caution in the market.
- Old Ethereum investors are coming back after years away, moving millions and showing fresh trust in where the market is heading.
- The return of whale activity and rising prices show that confidence in Ethereum’s strength and future is clearly growing again.
As the second-largest cryptocurrency in the world continues its rally, Ethereum whales are taking risks. With a 24-hour volume of $45.92 billion, Ethereum is currently trading at $4,651.02, up 1.91% over the previous day, according to CoinMarketCap.
Arkham reported that an unknown whale just purchased $86 million worth of ETH, sparking intense curiosity within the crypto community. At the same time, Lookonchain revealed significant selling activity by Trend Research, a known Ethereum whale. The firm deposited another 77,491 ETH, worth about $354.5 million, into Binance for sale within just 10 hours.
Furthermore, Trend Research sent 143,124 ETH, or $642 million, to the same exchange in the last four days. Large-scale transactions like these frequently portend portfolio modifications at the institutional level or profit realization after significant market rises.
Dormant Wallets Reactivate as ETH Recovers
Additionally, on-chain tracker Spot On Chain reported that a long-dormant whale resurfaced after five years. This whale deposited 15,000 ETH, worth approximately $68.2 million, into Bitfinex at an average price of $4,548.
The same wallet originally received 123,687 ETH from Bitfinex in 2019 when Ethereum was priced at only $153.9. The holder still controls 85,785 ETH across three wallets, currently worth around $392 million. This activity signals growing engagement among early Ethereum adopters who are now re-entering the market after years of inactivity.
Analyst James on X captured the market sentiment best, saying, “ETH from Sleep Mode to Beast Mode.” He highlighted how Ethereum moved from “vibing in the $2.4K–$2.6K zone” in October 2024 to “roaring around $4.6K–$4.8K” this October.
Consequently, the shift reflects renewed investor confidence and stronger institutional demand as Ethereum’s utility continues to expand across DeFi, staking, and tokenized assets.
