- Ethereum whales amassed 450,000 ETH in a month, signaling bullish momentum amid low gas fees of $0.05.
- Wallets holding 10,000–100,000 ETH surged to 16.79M ETH, marking confidence as smaller holders offload assets.
- Technical patterns suggest a potential breakout, with $2,900+ achievable if Ethereum surpasses $2,750 resistance.
Ethereum’s largest wallet holders have acquired over 450,000 ETH in the past month, signaling renewed bullish conviction following a prolonged market cooldown. On May 13, 2025, Ethereum’s price hovered near $2,679, marking a sharp recovery from March lows under $2,400.
According to the post above, wallets holding between 10,000 and 100,000 ETH saw their balances rise to 16.7932 million ETH by mid-May, up from a March low of nearly 16 million ETH. This trend highlights an inverse correlation with price dips, as whales accumulate during uncertainty.
Conversely, mid-tier wallets (1,000–10,000 ETH) showed a minor recovery, but small holders (100–1,000 ETH) continued to lower their holdings. Surprisingly, wallets holding over 100,000 ETH stabilized, suggesting a long-term accumulation strategy.
Major Whale Purchases Point to Strategic Repositioning
Significant inflows into centralized exchange wallets support the accumulation narrative. Over $15 million worth of ETH (6,054 ETH) was moved from OKX hot wallets in three transactions, valued at $2.78M, $6.99M, and $ 5.89 M. Simultaneously, Binance saw multimillion-dollar USDT deposits, including a $5 million transfer, highlighting how whales are managing liquidity reserves for future volatility. These movements indicate an institutional preference for ETH over altcoins in the current market cycle.
Gas Fees Plunge as Network Activity Becomes More Efficient
Ethereum’s network efficiency has reached peak levels, encouraging large-scale ETH transfers. Whale Insider reported gas fees dropped to $0.05 this week, supported by a base fee of 0.964 gwei and minimal congestion. Fast confirmation times (under two minutes) and reduced costs are fostering high-volume, coordinated transfers across exchange and cold wallets. These conditions minimize execution risks, making them ideal for whale accumulation strategies.
Long-Term Accumulation and Technical Patterns Signal Bullish Momentum
Long-term holding addresses continue to spike as whales discreetly hoard ETH. “Whales are hoarding ETH. No hype. No headlines. Just accumulation,” noted Merlijn The Trader, referencing a historic surge in wallet inflows comparable to Ethereum’s 2021 bull run.
Technical analysis suggests Ethereum is consolidating within a symmetrical triangle, typically preceding bullish continuation. Analysts highlight $2,750 as a key resistance level, with a potential breakout toward $2,900+. Reduced selling pressure and declining short-term holder activity support the likelihood of an upward move, provided breakout volume confirms the trend.
