Ethereum Whales Add 5.54M ETH, Balances Up 14% Since April

Large Ethereum (ETH) holders have stepped up accumulation in recent months. Data from the on-chain analytics platform Santiment shows that wallets holding between 1,000 and 100,000 ETH have expanded their balances by 14 percent since April.

These wallets added about 5.54 million ETH during this period, lifting their combined holdings to 45.2 million ETH. This marks the largest collective balance among these wallets since late 2021.

🐳 Ethereum has crept back up to nearly $4.5K, with accumulation coming from the key ‘millionaire’ and ‘small billionaire’ whales and sharks that hold between 1K and 100K $ETH. In exactly 5 months, they have added 14.0% more coins.

🔗 Link to chart: https://t.co/F3qGKbiF65 pic.twitter.com/oK7wdqp685

— Santiment (@santimentfeed) September 3, 2025

Is ETH Setting Up for a Major Move?

The accumulation has taken place as ETH recovered from under $2,000 in April to current levels near $4,500. Santiment noted that whales and sharks have historically influenced price direction through buying and selling activity.

Adding to the bullish outlook, Fundstrat Global Advisors offered a long-term technical view based on the Wyckoff methodology. The firm explained that long consolidation phases often precede stronger upward moves.

Ether’s prior consolidation between 2018 and 2020 near $90 was followed by a 54-fold rally to $4,866 in 2021. Fundstrat suggests the current base between $1,385 and $4,866 since 2022 could provide a similar setup. If that pattern were to repeat, ETH could theoretically climb toward $75,000.

Whale Accumulation Strengthens ETH Outlook

The dual signals of whale accumulation and extended price consolidation have drawn attention from analysts. While accumulation supports near-term stability, long-term targets remain highly speculative in a volatile market.

At the same time, activity in Bitcoin markets highlighted how major holders are shifting positions between assets. A whale who had been dormant for seven years with 100,784 BTC initiated a significant sell-off, moving funds into Ethereum.

According to a CoinTab report, the whale sold 22,769 BTC worth $2.59 billion and swapped them for 472,920 ETH valued at $2.22 billion using the Hyperunit protocol on Hyperliquid. The same whale also opened a long position in Ethereum after the exchange, involving 135,265 ETH worth $577 million.

ETH is trading around $4,400 at press time, up 1.4% in the past 24 hours according to CoinGecko. Analysts continue to watch whether whale activity and historical consolidation patterns can sustain the current momentum.

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