Whales ramped up accumulation as two addresses received approximately 43K ETH worth more than $153M. SharpLink Gaming also added 18.86K ETH valued at $66.6M to its treasury. Its total ETH purchase in the last 48 hours amounted to 30.755K ETH worth $106M. The Ether Reserve LLC, a subsidiary of The Ether Machine, bought 10.6K ETH for roughly $40M at $3.781K per ETH.
Onchain Lens reported that a new wallet with the address 0x86F911dEb6bB8CA received 24.294K Ether FalconX, valued at $86.5M. The Whale Alert platform also identified another whale address 0x40e912d100999b, which received about 18.675K ETH from Digital Galaxy, worth over $67M at $3.595K per ETH.
One Web3 KOL also revealed that an institution had acquired $50M worth of ETH via OTC. A crypto influencer noted that a whale address had stacked $300M worth of ETH in the last three days. Arkham’s August 3 data showed that another whale bought $274M ETH in three days. Arkham also identified a fresh whale address that received $58.5M worth of Ether on August 2. Arkham’s data showed that nine fresh wallets accumulated over 628.6K ETH worth more than $2B.
🐋 A WHALE BOUGHT 24,294 $ETH
WORTH $86.22 MILLION TODAY.WHALES ARE BUYING ETHEREUM LIKE
NEVER SEEN BEFORE IN HISTORY !!! pic.twitter.com/eYrmvkeYCq— Ash Crypto (@Ashcryptoreal) August 4, 2025
Arkham’s data revealed that a whale or an institution bought 108.278K ETH for $284 million via OTC on June 4. On the same day, another whale acquired 3.046K ETH worth $7.97 million. The data continued to show more whale activity on June 5 as a whale linked to Consensys received $320 million worth of ETH from Galaxy Digital.
On June 22, a whale added 17.07K ETH for $39 million, bringing their total ETH holdings to 132.536K Ether valued at over $303 million. The previous day, June 21, another whale had purchased 30K ETH worth approximately $73 million. That particular whale had bought 116.292K ETH worth $282.6 million in ten days.
“A whale has bought 32,368 ETH worth $118 million. In just a week, he has accumulated 138K ETH worth $500 million.”
–Ash Crypto, Crypto Market Analyst
On July 21, another whale bought 34,033 ETH for $128.68 million. Arkham’s data also showed that a whale bought 60.646K Ether worth $226 million on July 25. There was more whale activity two days later, as July 27 saw another address receive 30.366K ETH valued at over $115 million, according to Ash Crypto. Panic sellers sold on July 31 after Fed Chair Jerome Powell’s speech. One whale bought the dip, acquiring 39.652 ETH for over $153 million.
The Kobeissi Letter claimed that interest in ETH was rising because Ethereum was undergoing “one of the largest short squeezes in crypto history.” Kobeissi noted that ETH added a market cap of over $150 million since July 1. The analysis estimated that $1 billion worth of ETH short positions could be liquidated if Ether climbed another 10%. That development would likely send ETH prices catapulting to above $4K or maybe beyond.
Institutional ETF demand was also soaring as Glassnode data showed that U.S. ETH ETFs recorded single-day inflows of more than $727 million in mid-July. The SosoValue platform confirmed that U.S. ETH ETFs had a cumulative total netflow of $9.49 billion as of August 1. The total value traded stood at 2.26 billion, while the total net assets were valued at over $20 billion.
SosoValue’s data on August 4 showed that the net inflow for ETH spot ETFs was $154 million between July 28 and August 1. However, only ETHA recorded net inflows. As of publication, the ETH ETF net asset ratio reached 4.7%.
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