Ethereum Whale Adds $105M To His ETH Position – $1.33B Bought Since Nov 4

Ethereum has entered a consolidation phase following a turbulent period of selling pressure driven by macroeconomic uncertainty and market fear surrounding the US government shutdown. Over the past week, Ethereum’s price has stabilized around the $3,500 level after briefly dipping below key supports, as traders and institutions reassess risk exposure across the crypto market.

Despite the cautious sentiment, on-chain data reveals a contrasting story — large holders, or “whales,” are quietly accumulating ETH during the downturn. According to data from Lookonchain and CryptoQuant, several high-value wallets have significantly increased their Ethereum positions, signaling growing confidence among long-term investors even as broader market momentum slows.

This accumulation phase suggests that sophisticated players view current price levels as an opportunity rather than a sign of broader weakness. Historically, similar patterns of whale buying during macro uncertainty have preceded periods of recovery and renewed market strength. Such large-scale activity absorbs available market liquidity, strengthens psychological support zones, and might shift sentiment among retail investors, sparking bullish interpretations of these movements.

According to data from Lookonchain, a whale known for aggressive Ethereum accumulation has just purchased an additional 30,548 ETH ($105.36 million) within the past hour. This move brings his total acquisitions since November 4 to an astonishing 385,718 ETH, valued at roughly $1.33 billion. Notably, approximately $270 million of the funds used for these purchases were borrowed from the decentralized lending platform Aave, reflecting a highly leveraged but strategic position aimed at long-term gains.

This type of activity highlights institutional confidence in Ethereum’s medium-term outlook. Borrowing large sums to acquire ETH suggests that the whale expects price appreciation sufficient to offset borrowing costs and risks from volatility. Such strategic buying also indicates a growing demand for Ethereum exposure in Decentralized Finance (DeFi), as whales use platforms like Aave to optimize capital efficiency. However, these leveraged positions could amplify volatility if market conditions turn unfavorable.

Ethereum (ETH) is currently showing signs of stabilization after weeks of intense selling pressure, trading around $3,479 at the time of writing. On the daily chart, ETH is holding just above the 200-day moving average (red line), a key long-term support level that often precedes bullish recoveries. However, to regain momentum, ETH must decisively close above $3,650–$3,700, a critical resistance zone defined by the convergence of the 50-day (blue) and 100-day (green) moving averages.

Volume data suggests that selling pressure is gradually fading, though momentum remains weak. If Ethereum fails to hold the $3,400–$3,450 zone, the next major support lies near $3,200. On the upside, reclaiming $3,700 could potentially pave the way for a recovery toward $4,000. Broadly speaking, Ethereum seems to be in a phase of accumulation, with whales driving activity while retail traders remain cautious — a typical setup that often precedes a strong directional move.