Ethereum Rises to $3,215 as Whale Wallets Accumulate 450,000 ETH
Ethereum traded near $3,215 on December 4, 2025, supported by concentrated buying from whale wallets holding between 1,000 and 10,000 ETH. On-chain data from COINOTAG shows this cohort accumulated roughly 450,000 ETH between November 18 and December 2, 2025. Network activity also rose: daily new wallet creation reached about 190,000, indicating growing participation. Key points for traders: large-holder accumulation reduced short-term available supply and likely contributed to upward price pressure; the surge in new wallets may increase demand and network utility; watch on-chain flows and whale distribution for potential resistance levels and concentration risk. Primary keywords: Ethereum, ETH, whale accumulation, on-chain data; secondary keywords: network activity, new wallets, price drivers.
Bullish
Large-scale accumulation by whale wallets (1,000–10,000 ETH) of ~450,000 ETH over a two-week span reduces short-term circulating supply among active sellers and signals strong demand from sophisticated holders. Historically, concentrated buying by large addresses has supported rallies or limited downside during volatility (for example, past ETH upticks following whale accumulation phases in 2020–2021). The concurrent rise in daily new wallets (~190,000) suggests broader participation and potential ongoing demand, reinforcing bullish pressure. Short-term effects: tighter supply and momentum-driven buying may push prices higher and create short-term resistance at levels where whales begin distribution. Traders should monitor whale transfers to exchanges, on-chain outflows/inflows, and L2 fee/news catalysts (which could amplify flows). Long-term effects: sustained accumulation by large holders can reduce available float and support structural price appreciation, but concentration risk remains—if whales rotate into profit-taking, sharp pullbacks are possible. Overall, indicators point to a bullish bias but require watching on-chain distribution and exchange flow metrics for signs of profit-taking.