Ether is seeing renewed interest from large-scale investors, as blockchain data highlights major accumulation patterns from both institutional and individual whales.
Arkham Intelligence reported that one Ethereum address acquired over $300 million in Ether through over-the-counter (OTC) trading with Galaxy Digital.
This address now holds 79,461 ETH, valued at approximately $282.5 million.
The aggressive buying coincides with a general recovery in ETH’s price, following a brief drop over the weekend.
BlackRock ETF Adds Fuel to Ether’s Bullish Sentiment
Institutional demand has also picked up significantly.
BlackRock’s iShares Ethereum Trust ETF recorded $1.7 billion in inflows over the last 10 consecutive trading sessions.
According to Dune Analytics, the total Ether holdings in exchange-traded funds (ETFs) have surged more than 40% in just one month.
These inflows signal a growing appetite for Ether-based products among traditional finance players, likely spurred by increasing clarity around crypto regulation and market recovery.
Mega Whales Growing in Number
Further onchain analysis from Glassnode shows that the number of ETH “mega whale” addresses — defined as wallets holding over 10,000 ETH — has risen sharply.
More than 200 such addresses have been added since the start of July.
This group includes not only individuals and institutions but also custodians, centralized exchanges, and ETF issuers that are ramping up their holdings.
Weekend Dip Met with Strong Recovery
Ether’s price fell below $3,400 over the weekend but rebounded quickly to reach $3,560 on Monday.
This swift recovery was interpreted by some analysts as a response to shifting economic conditions in the United States.
“While the labor market’s cooling trend initially spooked investors, the heightened likelihood of monetary easing could soon reverse the sell-off, offering crypto a bullish tailwind as liquidity expectations shift,” said Monika Mlodzianowska, director of strategic partnerships at CoinW exchange.
Historical August Pattern Remains Bearish
Despite the recent bullish signs, Ether has a history of struggling in August.
According to CoinGlass, the asset experienced double-digit declines in both August 2023 and 2024.
However, during the bull run in 2021, ETH surged by 35.6% in the same month.
The mixed performance adds uncertainty as ETH heads into another August, typically a volatile period for the cryptocurrency market.
Eric Trump and CNBC Shine Spotlight on Ethereum
In a surprising twist over the weekend, Eric Trump urged his followers on X (formerly Twitter) to buy the ETH dip, signaling unexpected support from the Trump circle.
Meanwhile, CNBC described Ethereum as “Wall Street’s invisible backbone,” emphasizing its growing role in financial infrastructure and decentralized applications.
This mainstream media attention may further bolster ETH’s status as a core digital asset for both retail and institutional investors.