Ethereum whales are taking advantage of recent price dips, increasing their holdings as ETH dominance reaches an historical low of just 8%. Despite broader market pressure affecting risk assets, notably driven by tariff concerns, large investors are aggressively accumulating Ethereum even as the cryptocurrency struggles below the $2,000 level.
Throughout the past twelve months, Ethereum’s value has fallen by roughly 46%, underperforming Bitcoin significantly. According to crypto analyst Rekt Capital, Ethereum’s overall market dominance has continuously declined since June 2023, sliding from 20% to its current 8% position. Historical patterns, however, hint that whenever ETH dominance approaches such lows, rebounds typically follow, potentially signaling an upcoming turnaround.
Recent blockchain data from IntoTheBlock reinforces this bullish sentiment among large-scale investors—often referred to as “whales”—showing a marked increase in sizable transactions. Between April 2nd and April 4th, the number of large ETH transactions grew noticeably, from approximately 4,410 to over 4,610 transactions, with weekly averages around the 5,500 mark.
Detailed blockchain analyses show a few sizable whale purchases. In the past day alone, three particularly large-scale wallets accumulated over $40 million worth of ETH. According to analytics firm Lookonchain, one brand-new wallet notably bought 11,463 ETH, amounting to $20.78 million at an average price around $1,813 per coin, within just six hours.
Further illustrating a consistent pattern of accumulation, another whale wallet has been buying ETH aggressively since late March. This particular wallet made substantial buys on multiple occasions, notably acquiring 3,195 ETH (valued at roughly $5.97 million) on March 29th and an additional 4,100 ETH ($7.32 million) on April 4th. Overall, since March 26, this investor alone has acquired 33,441 ETH worth approximately $65.5 million, averaging around $1,959 per ETH.
As Ethereum’s dominance has diminished and prices remain subdued, these large purchases may signal investor optimism and confidence that the cryptocurrency has reached a buying opportunity threshold, setting the stage for a potential recovery.
