ICO-Era Ethereum Whale Stakes $645M as Whales Amass ETH
An ICO-era Ethereum whale that purchased 1 million ETH at $0.31 each in 2015 has reactivated after eight years. The whale staked $645 million in ETH, moving tokens into a validator contract while retaining 105,000 ETH in two addresses. This ETH staking deposit highlights growing confidence in Ethereum.
Ether recently reached a record $4,946 high and trades near $4,329. Concurrently, crypto whales are accumulating ETH. A seven-year-old BTC wallet liquidated holdings to fund $334 million in ETH longs, and another converted 22,769 BTC into 472,920 ETH. Institutional buyers are also piling in, with Peter Thiel-backed Bitmine Immersion Tech adding 69,603 ETH to reach 1.75 million ETH. SharpLink Gaming and FalconX-linked wallets increased their ETH reserves. Combined with spot ETH ETF inflows and favorable regulation, this wave of whale activity supports a bullish outlook for Ethereum.
Bullish
Staking by the ICO-era whale and heavy accumulations by other whales reduce available ETH supply on exchanges, tightening market liquidity. The whale’s move to stake $645 million demonstrates confidence in Ethereum’s PoS network and validator economics, potentially encouraging other holders to stake. Simultaneously, record-high ETH prices and large-scale conversions of BTC into ETH accentuate a rotation of capital into Ethereum, supported by spot ETH ETF inflows. Institutional investments, including Peter Thiel–backed Bitmine Immersion Tech, highlight growing mainstream adoption. Historically, whale activity and ETF demand have led to sustained price rallies. In the short term, reduced sell pressure and increased staking yield could fuel further upside. Over the long term, continued staking and institutional participation may strengthen network security and price support, underpinning a bullish outlook for ETH.