Ethereum Price Slips as Two Major Whales Spark a Big Shake-Up

Jakarta, Pintu News – Amidst the market correction, two major Ethereum investors have taken advantage of the situation to increase their holdings.

In the first few days of August, these large wallets have spent more than $400 million buying Ethereum (ETH).

This action shows a high confidence in the long-term value of this asset.

Big Deals by Ethereum Whales

One of the most notable transactions was recorded by Arkham Intelligence, where a wallet had purchased Ethereum (ETH) worth approximately $300 million through Galaxy Digital’s over-the-counter trading desk.

Read also: Ethereum Surges 3% Today — But Is a Drop Below $3,000 Looming?

Although it currently has an unrealized loss of about $26 million, this activity suggests a long-term accumulation strategy rather than short-term speculative trading.

The wallet, in a three-day period, has added a large amount of Ethereum (ETH), indicating a well-thought-out investment strategy focused on future asset value growth.

Although the current value of Ethereum (ETH) has dropped to $274 million from $300 million, this has not diminished the interest of these large investors in strengthening their position in the market.

SharpLink Joins the Buy

Ethereum-focused company SharpLink is also not left behind in capitalizing on this price drop.

Within two days, SharpLink had added 30,755 Ethereum (ETH) to its balance sheet, with total spending reaching $108.57 million. The average price per token was $3,530.

Currently, SharpLink owns a total of 480,031 Ethereum (ETH), with a market value of approximately $1.65 billion. This massive purchase comes as the price of Ethereum (ETH) is at its lowest point in recent weeks, at around $3,300.

Read also: Ripple Jumps 4% on August 4 — Key Signals Traders Are Watching

However, with the recovery in prices, the value of their assets has now increased slightly.

Market Perspective and On-Chain Activities

Increased on-chain activity on the Ethereum (ETH) network also supports this positive outlook.

Sentora, formerly known as IntoTheBlock, reported that Ethereum (ETH) recorded 931,000 active addresses in a single day, the highest number in almost two years. This indicates increased user engagement and growing interest across the network.

In addition, favorable regulatory trends could further strengthen Ethereum’s (ETH) prospects.

With US officials looking to lead global finance into a blockchain-based era, Ethereum (ETH) is predicted to continue to dominate as the smart contract platform of choice for Wall Street firms.

Overall, with large investors continuing to add to their holdings and on-chain activity increasing, the future of Ethereum (ETH) is looking increasingly bright. This is not just a temporary rally, but an indication of Ethereum’s growing role in global finance.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Two Ethereum Whales Buying the Dip. Accessed on August 4, 2025