$5.32 million buy-in at a higher price, a new move by whales on ETH

According to the latest news, a whale recently added to their position by purchasing 1,600 ETH approximately 2 hours ago (around 08:26) through two addresses, totaling $5.32 million with an average entry price of $3,327. This transaction occurred amid an upward trend in ETH price, which is currently quoted at $3,337.58, and the whale is already in a slight profit. This move has attracted on-chain attention and also reflects the current capital flow in the Ethereum market.

Timing Background of the Accumulation

This whale’s operation took place within a specific time window. Based on recent data, ETH has shown strong performance:

• Up 7.68% in the past 24 hours
• Up 2.78% in the past 7 days
• Up 6.82% in the past 30 days

The average entry price of $3,327 is only about $10 below the current price of $3,337.58, indicating that the whale was accumulating at a relatively high price rather than at a low. Such chasing behavior typically reflects optimistic expectations about the market’s future.

On-Chain Whale Behavior Comparison

Recent on-chain data shows interesting divergence in whale activity on ETH:

From this comparison, it’s clear that short-term traders took profits and exited (the 3,000 ETH sold on January 12), while new funds entered at high levels (the 1,600 ETH chasing today). This indicates differing outlooks among market participants regarding ETH’s future movement.

Market Significance of the Accumulation Scale

While 1,600 ETH is small compared to the large holder’s 626,700 ETH position, the single transaction value of $5.32 million can send a market signal. Such chasing behavior usually occurs in two scenarios: one, when funds are optimistic about further upward movement; or two, when they recognize the current price level.

Characteristics of Multi-Address Operations

The whale used two addresses to diversify their accumulation, a common tactic among large on-chain holders. This approach may be for risk diversification, concealment of true intent, or to evade certain trading restrictions. Tracking data shows these two addresses belong to the same individual, indicating a carefully planned operation.

Market Signal Interpretation

Current ETH Market Environment

ETH’s market cap is $40.283 billion, accounting for 12.40% of the total cryptocurrency market cap, with a 24-hour trading volume of $3.014 billion. In such a market depth, the whale’s chasing accumulation, while not enough to shake the market, still provides a meaningful reference.

Personal Viewpoint

On-chain data suggests that this chasing accumulation reflects institutional or experienced traders’ recognition of ETH’s current price. Compared to the profit-taking operation on January 12, today’s chasing indicates a different trading mindset, possibly signaling confidence in further price increases. However, it’s important to note that chasing high inherently involves higher risk, and the subsequent price movement will determine the profit or loss of this position.

Summary

The whale’s chasing accumulation of 1,600 ETH within two hours is a noteworthy signal in the current market. While the scale is not large enough to alter the overall market structure, the behavior itself reflects a bullish attitude toward ETH’s future. Compared with other whales’ profit-taking operations during the same period, market participants show clear divergence. The key focus going forward is whether this accumulation can profit if prices continue to rise, and whether more funds will follow suit.