Glassnode on ETH Whales: ‘This Scale of Buying Hasn’t Been Seen Since 2017’

Ether (ETH) ETH traded astatine $2,555.77 connected Tuesday, down 3.7% implicit the past 24 hours aft a crisp rejection adjacent the $2,673 level triggered a question of selling. The downturn follows respective sessions of declining momentum and expanding volatility, culminating successful a large sell-off precocious Monday that broke done archetypal enactment and near prices trending downward for astir of the day.

Despite this weakness successful terms action, on-chain information suggests that larger marketplace participants proceed to dainty the pullback arsenic an accidental to accumulate. According to Glassnode, regular nett whale accumulation has exceeded 800,000 ETH for astir a week, with full holdings successful 1,000 to 10,000 ETH wallets rising supra 14.3 million. The largest single-day inflow occurred connected June 12, erstwhile whale wallets added much than 871,000 ETH — the biggest nett inflow of 2025 truthful far.

This accumulation inclination mirrors behaviour past seen successful 2017, underscoring the standard and strength of caller large-holder buying. The whale buying spree has coincided with Ethereum’s retreat from $2,700 levels and whitethorn bespeak strategical positioning up of further developments successful organization flows oregon ETF-related catalysts.

While technicals stay nether unit successful the abbreviated term, the magnitude of this buying enactment signals increasing condemnation among ample entities. With prices hovering conscionable supra cardinal support, traders and analysts are watching intimately to spot whether this whale-driven accumulation translates into a near-term reversal oregon simply cushions further downside.

Technical Analysis Highlights

• ETH fell 5.7% from $2,679.99 to $2,527.37 during the June 16 trading session, with measurement exceeding 560,000 ETH.
• A crisp driblet occurred during the 22:00 hour, confirming absorption astatine $2,650 and accelerating downside momentum.
• The consequent betterment stalled adjacent $2,540, forming a constrictive consolidation signifier with reduced volatility.
• During the last hr of the investigation window, ETH climbed from $2,550.57 to a highest of $2,564.28 earlier stabilizing adjacent $2,553.40.
• A spike successful measurement astatine 13:30 saw implicit 12,200 ETH traded, driving a little 1.6% rally to $2,561.59.
• A pullback followed, uncovering enactment astatine $2,549.56 during the 13:44 candle; terms enactment formed an ascending transmission with buyers stepping in.
• The $2,553–$2,555 portion emerged arsenic a cardinal intraperiod consolidation level during the betterment phase.

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