On-chain data shows smart money flowing into Ethereum (ETH) as whales/ institutions accumulating the asset. Today, a major whale whose wallet address identified to belong to Cumberland withdrew 27,632 ETH (worth $50.24 million) from trading platforms including Copper, Binance, and Coinbase. This market activity shows renewing interest among large investors on Ether.
It seems that whales/institutions are accumulating $ETH!
Over the past 3 hours, a wallet linked to #Cumberland has withdrawn 27,632 $ETH($50.24M) from #Copper, #Binance, and #Coinbase.https://t.co/2CNtRUpICk pic.twitter.com/FK0A68w1vT
— Lookonchain (@lookonchain) April 29, 2025
Whale activity shows confidence in Ether
This prominent whale’s move into the Ethereum market with such a massive purchase shows confidence in the Ether token’s potential. The huge acquisition indicates a strategic approach to the asset.
Today, another whale shook the Ethereum market with a massive OTC purchase. The whale bought 30,000 ETH valued at $54 million through Wintermute, a platform recognized for OTC trading. His activity, conducted through two transactions, showcases a silent acquisition strategy when the Ether market is still in the correction phase.
On-chain metrics indicate that the number of addresses holding between 1,000 and 10,000 ETH has remained unchanged in the last seven days. This consistency was noticed when ETH moved from the $1,500 level to the $1,700 mark, suggesting that whales did not place their ETH tokens on sale during the recent heightened downtrend.
Also, since April 21, 2025, on-chain indicators noted a surge in the quantity of whale transactions. While this aligns with the recent ETH price recovery, this trend shows rising confidence among whales and potential upturns. Typically, accumulation periods by large investors happen before substantial bull runs.
What next for Ether price?
Of late, Ether has been displaying resilience despite ongoing price corrections. The second-biggest digital asset is currently hovering at $1,829. Its price has been up 12.4% over the past week, suggesting that the token is developing foundation for further gains.
The current momentum appears to attract buyers who move into the market to purchase at lower price levels. Technical indicators show that ETH is currently in the formation of an ascending triangle. This pattern indicates that the asset is currently in a consolidation movement before a possible breakout to higher prices.
Accumulation by big investors and improving broader market conditions suggest that Ether seems to be on the path towards $2k. For now, the token appears preparing to break the resistance levels of $1,840 and $1,874 in the coming days.
