You Won’t Believe What These Ethereum Whales Did With $1.7 Billion 🐋💸

by

Somewhere in the shadowy cryptoland, Ethereum whales are gobbling up Ether like it’s the last chocolate cake at a Matilda school bake sale. According to the peeping toms at Arkham Intelligence, some mysterious someone (or perhaps a whale in a very expensive disguise) decided Sunday was perfect for scooping up $300 million worth of ETH — all from the glittering hands of Galaxy Digital. That’s the sort of shopping spree that would put even Veruca Salt to shame. 🛒

Now, this whale is lugging around 79,461 ETH (sized just right for a small county’s GDP), which right now is about $282.5 million. I hope their pockets are deep and their passwords memorized.

Meanwhile, up in the glassy towers of BlackRock, someone’s probably fallen off their swivel chair in delight: Their iShares Ethereum Trust ETF has guzzled up a meaty $1.7 billion over the last ten trading days — that’s more zeroes than Count Olaf’s bank account. 

ETFs are apparently sprouting ETH so fast that Dune Analytics had to double-check their monocles: Exchange-traded fund Ethereum holdings shot up over 40% in just 30 days. Forget Jack’s beanstalk — this one grows crypto instead of magic beans. 

ETH Mega Whales: The Big, the Bold, and the Blockchain-y 🐳

If you thought your coin collection was impressive, brace yourself. There are now even more mega whales than before — Glassnode’s statistics are fatter than Augustus Gloop after a chocolate river swim. “Mega whale,” by the way, means holding more than 10,000 ETH. More than 200 of these behemoths joined since July. Even the Oompa-Loompas are taking notes.    

This crowd includes exchanges, mysterious custodians, and exchange-traded product peddlers. All have been gobbling ETH like it’s a Wonka Bar with a golden ticket inside.

Ether: Recovering Like a True Fairy Tale Hero 🪄

Over the weekend, ETH prices slipped and slid below $3,400 like a kid on a greased playground slide. By Monday, however, Ether—the plucky protagonist—climbed heroically back up to $3,560. Certainly makes Goldilocks look like an amateur. 

Monika Mlodzianowska, possibly waving a crystal ball, claims that investors got jittery over “labor market cooling,” but monetary magic (that is, easing) could whip things back into a bullish frenzy. She told CryptoMoon, while possibly cackling over her breakfast cereal.

Bears in August: Even ETH Can’t Catch a Break 🎢

August has, for ETH, been about as much fun as a three-legged race with the BFG. Apparently, ETH has lost double digits in Aug 2023 and 2024. (Cue sad trombone.) There was one wild and wondrous August in 2021, where ETH skyrocketed nearly 36% — but that was a bull market year, and who doesn’t love a good stampede? (Numbers courtesy of CoinGlass, which presumably is even shinier than Mr. Wormwood’s used cars.)

Over the weekend, even Eric Trump (yes, that one) tweeted about “buying the ETH dip.” If that’s not a modern fairy tale twist, what is?

In other news, CNBC dubbed Ethereum “Wall Street’s invisible backbone” — invisible to everyone except for those who apparently own a boatload of it. 🦴💰

Read More

2025-08-04 09:40