Recent price slides have not thwarted big money players as large transactions over the past 24 hours show that whales will be added to the position.
According to LookonChain data, one fresh wallet, a three-day accumulation streak, received 25,213 ETH (Equivalent to $94.67 million) from Falconx early on July 22, 20225. The transaction has boosted its total holdings, roughly valued at $267 million at its current price, to 72,333 ETH.
Around the same time, another newly created wallet withdrew 5,309 ETH ($19.96 million) from Vinance, increasing its holdings to 19,391 ETH, worth $72.38 million.
Whales continue to accumulate $eth!
Fresh wallet 0x8EEA received an additional $25,213 ETH (94.67m) from #FalConx 3 hours ago.
Fresh Wallet 0xd479 retracted an additional 5,309 $ETH ($19.96m) from #Binance an hour ago, totaling 19,391…pic.twitter.com/ogxvlinbeq
– lookonchain (@lookonchain) July 22, 2025
But it’s not just new entrants, it’s not just moving. The long-term whales that had been inactive for two years have recently resurfaced to join the trend. The wallet scoops up 34,033 ETH at about $128.68 million in minutes, demonstrating new confidence in the assets at current price levels.
You might like it too: Ethereum Retreats Under $3,700, Are there any gatherings?
Institutional demand is also driving this momentum. According to Arkham Intelligence, Asset Manager BlackRock spent around $1.76 billion in purchases last week. Today, the company purchased another 27,158 people, worth around $100 million.
BlackRock accumulation continues to surge in demand for Ethereum ETFs, and inflows have been at record levels since its inception.
But not everyone buys it. According to LookonChain data, some large holders are already profiting. One tracked whale recently sold 8,005 ETH for $30.3 million for $3,751. Just two weeks ago, the same wallet bought 9,582 ETH for around $2725 for $26.11 million, securing a profit of $9.87 million in just 14 days.
This sales pressure likely contributed to today’s dip, with Ethereum rebounding to $3,649 after hitting a low of $3,620 of $3,620. ETH has fallen by about 3.1% in the last 24 hours, 5.2% below this week’s highest price of $3,850.
Despite the pullback, ETH is still up 23% a week and 62.3% over the past month, affirming market sentiment towards rising price targets.
read more: $5K ETH? Arthur Hayes’ tweets make market talk hot