Ethereum whales bought up a record 449,000 ETH overnight, signaling #bullish sentiment and institutional interest.
On April 28, 2025, large holders of Ethereum, known as whales, purchased 449,000 ETH, equivalent to roughly $1.57-$1.8 billion at the current price. This marked the largest accumulation since 2018, signaling institutional investors' growing confidence in the altcoin's future. According to onchain data reported by news platforms, the whale activity coincided with bullish market sentiment, fueled by inflows into spot #Ethereum-ETFs and expectations of a rising ETH price.
The accumulation comes amid Ethereum's strengthening position as a leader in#DeFi and #Web3, helped by technical improvements to the network, including the move to #Proof-of-Stake and scaling solutions. Analysts attribute the whales' activity to expectations of breaking through price resistance at the $4,000 level, which could push ETH to $4,800-$5,000 in the coming months. Historically, such whale activity has preceded rallies, as was the case in January 2025, when buying up 330,000 ETH led to a 66% rise. However, the current scale of 449,000 ETH underscores the unprecedented interest of the big players.
Despite the optimism, experts urge caution. The lack of primary onchain data from platforms like Glassnode raises questions about the accuracy of the numbers, and conflicting market signals, such as the bearish MVRV in December 2024, point to correction risks. In addition, whales can use accumulation to manipulate, creating a bullish narrative before selling at the peak. Nevertheless, capital inflows into the ETH-ETF and the rise of wallets with balances of over 1,000 ETH confirm long-term interest in the asset.
The event could be a catalyst for a new Ethereum rally, but success depends on macroeconomic conditions and the dynamics of bitcoin, with which ETH remains highly correlated. While the crypto community is watching the whales move, this incident highlights the increasing role of institutionalization in shaping Ethereum's future.
