On-chain data shows the smart money flowing into Ethereum (ETH) as whales/institutions accumulate assets. Today, the wallet address identified as belonging to Cumberland has withdrawn 27,632 ETH (valued by $50.24 million) from trading platforms that include Copper, Binance and Coinbase. This market activity shows renewed interest among large investors in ether.
Whale/facility seems to be accumulating $eth!
Over the past three hours, wallets linked to #Cumberland have withdrawn 27,632 $ETH ($50.24m) from #Copper, #Binance, and #coinbase.https://t.co/2cntrupick pic.twitter.com/fk0a68w1vt.
– lookonchain (@lookonchain) April 29, 2025
Whale activity shows confidence in the ether
The transition to the Ethereum market with such a large purchase of this prominent whale shows confidence in the potential of ether tokens. The enormous acquisitions demonstrate a strategic approach to assets.
Today, another whale shook the Ethereum market with a massive OTC purchase. The Whale has purchased 30,000 ETH, worth $54 million, through WinterMute, a platform recognized for OTC trading. His activities, carried out through two transactions, showcase the silent acquisition strategy when the ether market is still in the correction stage.
On-chain metrics show that the number of addresses holding ETHs between 1,000 and 10,000 has not changed in the last 7 days. This consistency was noticed when ETH moved from the $1,500 level to the $1,700 mark, suggesting that whales are not selling ETH tokens during the recently elevated downtrend.
Also, since April 21, 2025, on-chain indicators have been paying attention to the surge in whale trading volume. This is in line with the recent recovery in ETH prices, but this trend indicates increased confidence among whales. Typically, accumulation periods by large investors occur before the substantial bull is carried out.
What’s next for the ether price?
Recently, ether has shown resilience despite continuous price adjustments. The second largest digital asset is currently hovering for $1,829. Its price has risen 12.4% over the past week, suggesting that tokens are developing a foundation for further profits.
The current momentum appears to attract buyers moving to the market to buy at a lower price level. Technical indicators indicate that ETH is currently in the formation of an ascending triangle. This pattern shows that assets are currently in the process of consolidation before breakouts to higher prices.
Accumulation by large investors and improved broader market conditions suggests that ether appears to be on the path to $2K. For now, it appears that the token is preparing to break the $1,840 and $1,874 resistance levels in the coming days.
