- Whale wallet “0x2d85” adds 12,010 ETH, signaling aggressive accumulation.
- $18M in ETH and wstETH flows hint at coordinated institutional rebalancing.
- Ethereum holds $1.6K as on-chain moves point to strategic DeFi exposure.
Ethereum saw notable whale activity over the past week, with one address accumulating 12,010 ETH valued at $18.39 million. The latest transaction included 2,400 ETH, worth roughly $3.85 million, transferred from Kraken’s hot wallet to wallet “0x2d85.” This sustained accumulation trend was highlighted in a post by Lookonchain.
Six hours prior, the same wallet also received 2,001 wstETH, valued at $3.84 million, from the CoW Protocol Settlement contract. These two high-volume transfers occurred within minutes of each other, signaling strategic portfolio rebalancing. Multiple transactions from Kraken and CoW further suggest the wallet is central to institutional allocation flows.
ETH Whale’s Transfers Tie into Broader On-Chain Activity
The wallet “0x2d85” also engaged with staking services and stablecoins, moving $1.8 million USDS to the CoW Protocol and interacting with Spark and Lido contracts. Besides ETH, it handled nearly $5.2 million in wstETH, pointing to a diversified strategy across DeFi ecosystems. Minting activity from the Null Address further supports the wallet’s active role in ecosystem liquidity.
According to a report by TradingView, Ethereum price action reflects recent turbulence followed by tight consolidation between $1,580 and $1,630. The price structure has narrowed sharply since April 10, with support holding near $1,580 and resistance capping gains at $1,630. Market watchers see this as a critical pivot zone as large addresses continue accumulating below resistance.
Price Consolidates as Whale Accumulation Continues
Ethereum is currently trading near $1,608.90 following a 0.27% intraday dip, reflecting compressed volatility and low conviction. Over the past ten days, declining trading volume and tighter daily ranges have set the stage for a potential breakout. Resistance remains stiff near $1,630, with sellers rejecting advances at that level across multiple sessions.
Wallet “0x2d85” has consistently received inflows of ETH, wstETH, and USDS, supporting the view of structured treasury management. Besides Kraken, CoW Protocol, Spark, and Lido dominate the transaction map, underlining institutional participation. Transaction sizes ranging from $1.79M to $5.2M reinforce large-scale positioning across major Ethereum-based platforms.
