Ethereum Whale Snaps Up $39 Million in ETH — Even as Prices Crash Harder Than Bitcoin!

Jakarta, Pintu News – A high net worth Ethereum trader has amassed tens of millions of dollars worth of Ethereum , despite a general market downturn due to rising tensions in the Middle East and re-emerging signs of risk aversion .

Ethereum’s Sharp Decline Doesn’t Faze Whales

Crypto wallet address 0x7355…213 bought about 9,400 ETH (about $39 million) in two large batches on June 22, bringing his total ETH holdings to $330 million.

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This purchase comes despite ETH being one of the worst performing major cryptocurrencies in the past 24 hours.

The price of ETH fell by around 12.80% in the last 24 hours to hit a low of $2,155 (22/6). ETH has underperformed the top-ranked crypto, Bitcoin , which only lost around 4.70% over the same period.

The decline came as markets reacted to reports of a direct military strike by the United States against Iran – a major escalation in the Israeli-Iranian conflict that began with Israel’s Operation Rising Lion on June 13.

Despite the bearish market backdrop, this whale is actively accumulating ETH and distributing it through Lido‘s liquid staking protocol.

The timing and size of this transaction suggests that the whale sees this sell-off as a long-term opportunity to buy the dip, not a reason to panic.

Ethereum Whales Show Optimistic Sentiment

Data from Glassnode, which tracks whale ownership patterns in general, also shows a similar optimistic sentiment.

Ethereum wallets holding more than 10,000 ETH increased their net position on the day the US launched airstrikes on Iran, as well as in the previous few days.

On June 21, these mega-whales amassed over 116,893 ETH worth approximately $265.3 million – a signal that they saw the price drop as a buying opportunity, not a reason to exit the market.

Ethereum Eyes 25% Rally

Ether is currently holding above anascending trendline that is considered crucial and has the potential to trigger a strong rally in the next few days, according to market analyst Sensei.

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Previously, a bounce off the same support level pushed ETH up by 55% in April-May 2025.

If the same pattern repeats, ETH is expected to rebound towards the $2,735 resistance level in the short term – up about 25% from the current price.

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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:

• Cointelegraph. Ethereum whale stacks $39M despite ETH falling harder than Bitcoin. Accessed on June 23, 2025