One whale just spent over $50 million in DAI stablecoins to buy more than 25,000 ETH tokens. This stunning move comes as Ethereum’s price floated between $1,872 and $1,973, with the whale securing tokens at an average of $1,968 each. Such a large purchase is a clear sign that big investors see value in accumulating Ether right now.
The activity isn’t isolated. Bitmine Immersion Technologies, a significant player in the crypto space, added 10,000 ETH to its holdings today, pushing its total to nearly 5.8 million ETH. This makes Bitmine the largest corporate holder of Ethereum globally, highlighting strong institutional confidence.
These big buys hint at smart money quietly scooping up Ether during what they perceive as a dip, likely betting on future price recovery. After weeks of profit-taking, whales seem to be returning to the market, fueling a recent jump in Ether’s price to around $1,929. That’s a 9% gain over the past two weeks and over 21% in the last month.
Ethereum’s charts currently display a bullish W-shaped pattern on the weekly timeframe, which often points to a price rally above key resistance levels. Analysts note that $1,800 serves as strong support right now, with bulls firmly in control. If this momentum continues, Ether could soon challenge the $2,200 mark.
This renewed buying aligns with trends seen among ETF investors and other large holders, contributing to Ethereum’s resilience. The shift suggests that large players expect the network to perform well in the long run, reinforcing the strategy of buying more at lower prices and holding tight.
