Whales and New Wallets Spark 466,253 ETH Accumulation
On-chain analytics from Lookonchain show that since July 19, seven newly active wallets and key whale addresses have driven ETH accumulation totaling 466,253 ETH (≈¥1.7bn). Major inflows came through prime brokerage FalconX — led by address 0x8eEa’s 138,345 ETH acquisition — and significant withdrawals from exchanges like Kraken and Galaxy Digital. In recent hours, two whale addresses added 43,591 ETH (~$145M), with 0x8eEa alone adding 32,368 ETH (~$116M) to bring its holdings to 138,345 ETH (~$503M). This sustained ETH accumulation reduces exchange liquidity and underpins bullish price sentiment ahead of Ethereum network upgrades, potential ETF approvals and growth in DeFi and NFTs. Traders should track on-chain metrics, wallet flows and integrate them with technical and fundamental analysis to identify entry opportunities, while maintaining diversification and risk management.
Bullish
Large-scale ETH accumulation by both established whales and newly active wallets signals strong conviction and reduces exchange liquidity, historically supporting upward price moves. In the short term, continued outflows can trigger bullish momentum as supply tightens. Over the long term, sustained whale interest ahead of network upgrades and potential ETF approvals underpins confidence in Ethereum’s fundamentals, reinforcing a positive market outlook.