The price of Ethereum, that ever-fluctuating creature, has dipped below the much-discussed $3,400 threshold for the first time since August. But fear not, for the mighty whales-the real titans of the crypto seas-seem to have taken this price drop not as a threat, but as a rather delicious buying opportunity. According to the latest data, these wealthy investors have been snapping up ETH in bulk, as though the market had suddenly become a fire sale.
And it’s not just about the buying frenzy. Ethereum, the seemingly unshakable giant, has also just reached a new milestone in network throughput. This, my dear reader, only serves to reinforce the idea that, despite a slight stumble in price, Ethereum is far from being on the brink of collapse. In fact, it may just be warming up for something better. But I digress.
Whales Scoop Up $1.12 Billion Worth Of ETH In 48 Hours
Brace yourself for some numbers that might make your wallet dizzy: according to Lookonchain, Ethereum whales have gathered a mind-boggling 323,523 ETH over the course of just 48 hours. That’s roughly $1.12 billion worth of digital gold. Talk about a shopping spree! 🎉
One particularly large whale was spotted snapping up 257,543 ETH, worth around $896 million, at an average price of $3,480 per token. Yes, you read that right-this particular whale has some serious purchasing power. Meanwhile, another group of addresses-known as the “seven siblings” (because why wouldn’t they be?)-quietly acquired 37,971 ETH, worth $133 million, at a slightly higher average price of $3,515. A family affair, indeed.
But that’s not all! A whale, renowned for its swing-trading prowess, scooped up 14,004 ETH for a mere $45.5 million, buying at a bargain price of $3,247-right around the recent price lows. Classic move, right? Some newly minted wallets joined the fray as well, purchasing 10,000 ETH and 4,005 ETH, respectively. In total, the whales have amassed 323,523 ETH at an average price of $3,469. All of them, in their collective wisdom, seem to be capitalizing on the drop below $3,400, as any savvy investor would.
Price Weakness Might Be Setting Stage For Breakout
Now, if you’re the cautious type, you might be wondering whether this market drop spells disaster. Well, fear not! The growing accumulation of ETH by these whales might be the sign of a bullish breakout, not a bearish collapse. The defenses are strong at the $3,200 mark, and the whales’ buying spree suggests they have every intention of keeping it that way. If Ethereum can hold firm above this level, it could easily rebound above $4,000 by the end of the month. But first, it needs to reclaim $3,800 and close the week on a high note. Fingers crossed, folks.
What’s even more promising is Ethereum’s network performance. Despite the market’s ups and downs, Ethereum’s blockchain continues to perform like a well-oiled machine. It recently hit a record throughput of 24,192 transactions per second (TPS), setting a new benchmark for speed and activity across the network. If that’s not a sign of strength, I don’t know what is. 🦸♂️
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2025-11-07 02:23