Ethereum Holds Steady at $4,500 as Whale Scoops Up $357 Million Worth of ETH

Jakarta, Pintu News – Four large investors (often called “whales”) have bought more than $350 million in Ethereum’s (ETH) native token, ETH, in the past two days. This activity raises questions about its impact on the ETH price going forward.

The term “whale” refers to investors with large funds who are able to significantly move the direction of the market.

Then, how is Ethereum’s current price movement?

Ethereum Price Drops 0.32% in 24 Hours

On August 29, 2025, the price of Ethereum was recorded at around $4,500 or the equivalent of IDR 74,330,345, experiencing a slight correction of 0.32% in the last 24 hours. During this period, ETH had touched its lowest level at IDR 72,716,209, and its highest level at IDR 75,787,059.

As of writing, Ethereum’s market capitalization now stands at around IDR 8,884 trillion, with daily trading volume falling 16% to IDR 464.21 trillion in the last 24 hours.

Read also: Whale Quietly Accumulates Shiba Inu — What’s Next for SHIB in September 2025?

Whale Crypto Buys $357 Million Worth of Ethereum

An analyst from Arkham Intelligence found four crypto wallet addresses with similar purchase patterns and transaction times, which were found to have purchased $357.24 million worth of ETH from FalconX, a company that bills itself as a “premier crypto broker for institutions.”

The pattern suggests that all four addresses may be owned by the same entity, or at least connected. In response, the analyst wondered if the whales were “buying at the bottom”, with the hope – and possibly the ability – to push the ETH price up from this point.

On the other hand, fund inflows into spot Ethereum ETFs surged dramatically, totaling $1.83 billion in the last five trading days, according to a report from Coinspeaker. This institutional activity is not only happening on ETH, but also on Bitcoin and other cryptos, all of which are showing massive buying at the lower price range.

For example, Smarter Web Company bought 45 BTC at around $111,000 per coin, and Bitplanet will invest $40 million into Bitcoin (BTC), making it the first institutional company in South Korea to hold BTC as part of the company’s cash.

ETH Tests Crucial Support Level of $4,747

A number of technical indicators and historical price movements support the possibility that Ethereum (ETH) – and a number of other crypto assets – are forming a bottom.

Read also: Bitcoin Holds Steady at $111,000 Today — Is the Bullish Trend Still Alive?

As of August 28, the price of Ethereum was hovering around $4,747 per token, which is testing an important support level. If this level is successfully defended, then ETH could potentially experience a rebound and reinforce the notion that the market has bottomed out, in line with the trend of heavy buying by institutional and whale investors.

Interestingly, it could be that Ethereum’s bottom has been forming since August 26, which is when four large investors tracked by Arkham started buying ETH, with the price at that time around $4,320.

Previously, there were two other potential price bottom formations that pushed ETH up on August 20 and 21, at $4,070 and $4,215 respectively.

ETH’s current price action is also moving close to the 50-period exponential moving average on the 4-hour chart (4H50EMA) – an important technical indicator in crypto analysis.

While it is not certain whether a bottom has actually formed at this level, the behavior of whales and institutions suggests that they believe this is the point of trend reversal.

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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:

• Coinspeaker. Crypto Whales Accumulate $350M in Ethereum as Price Tests Key Support Levels. Accessed on August 29, 2025