# Whales Loading Up! Collective On-Chain ETH Bullish Sentiment Over Past Month

According to Cointime, a suspected Erik Voorhees-related DCA whale purchased 114,424 ETH early this morning, spending approximately $30.72 million USDT. This address group has accumulated a total of 117,800 ETH using 6 wallets, with a total cost of $253 million USDT and an average price of $2,149. Over the past month, the ETH market has shown a pattern dominated by accumulation with sporadic selling, as institutions and top whales maintain firm positions.

## Major Accumulating Whales Over Past Month (Core List)

1. **DCA Whale (Suspected Erik Voorhees Related):** Accumulated 117,800 ETH, average price $2,149, continuous DCA accumulation

2. **BitMine Immersion:** Added 50,900 ETH, raising total position to 4.4736 million ETH, strategic long-term allocation

3. **Whale 0x8E3:** Accumulated 80,219 ETH within 5 days, valued at $166.76 million, holdings dispersed across multiple addresses

4. **Whale 0xFB7:** Multiple accumulations, total position reaches 150,572 ETH, synchronized allocation of ETH and cbBTC

5. **Institution-Related Address 0xa5b0:** Accumulated 6,000 ETH near $2,300, bottom-fishing

6. **Whales 0x7673/0xBA9A:** Accumulated 5,350 ETH, average price $2,043, re-entering market for accumulation

## Major Selling Parties Over Past Month (Minimal and Non-Trend)

1. **Vitalik Buterin:** Staged reduction for ecosystem support, not bearish

2. **FG Nexus:** Reduced 7,550 ETH, portfolio rebalancing

3. **Whale 0xEAD:** Sold 23,924 ETH, reversed position with new long orders after profit-taking

4. **Bargain-Hunting Whale:** Reduced 12,000 ETH, minor profit-taking

## Overall Assessment

Accumulation volume far exceeds selling volume. DCA investors, institutions, and veteran whales have entered simultaneously, demonstrating consistent bullish sentiment on ETH's medium to long-term value. The fund flow remains persistently strong.

$ETH