Ethereum Slides, Large Holders Scoop Up $1.6B—Analysts Interpret This Opposing Move
- Ethereum whales and institutions accumulate $1.6B in ETH amid market downturn, signaling long-term confidence. - Co-founder Jeffrey Wilcke's Kraken deposit sparks speculation but experts caution against immediate sales. - Kraken's $500M funding and IPO plans highlight its role as a key liquidity hub for institutional investors. - Historical parallels like Bitcoin-to-ETH swaps suggest potential price stabilization as exchange reserves shrink. - Market observers link whale accumulation to Ethereum's layer-
Ethereum’s market landscape has experienced notable shifts, as increased whale transactions and institutional participation point to rising trust in the cryptocurrency. In just two days, 15 major wallets acquired a total of 406,117 ETH—worth about $1.6 billion—from leading exchanges such as Kraken,
This accumulation comes after Ethereum co-founder Jeffrey Wilcke moved 1,500 ETH (valued at $6 million) to Kraken. The transfer has led to speculation about a possible sale, but analysts warn that sending assets to an exchange doesn’t always mean an immediate sell-off. Wilcke has made similar moves before, including a $9.22 million ETH transfer to Kraken in August 2025 and a $262 million transfer in earlier years. While some see his latest action as a liquidity move, others believe it may simply be part of regular portfolio adjustments Ethereum co-founder shifts $6M of ETH, but whales bought $1.6B [ 2 ].
Kraken has emerged as a central player in recent market activity, having secured $500 million in funding at a $15 billion valuation in September 2025. This investment round, backed by private investors, sets the stage for a potential IPO in 2026. During this period, Kraken also saw significant ETH deposits from whale accounts, reinforcing its status as a major liquidity provider for both institutional and retail clients. Co-CEO Arjun Sethi has reiterated the company’s commitment to a long-term vision, noting there is “no rush” to go public Kraken’s $500M Raise Coincides With Whale Grab of $1.6B in ETH [ 1 ].
The recent whale buying mirrors past events, such as one in late August 2025 when a
Analysts are also watching how whale activity interacts with Ethereum’s broader progress, including ongoing layer-2 scaling projects and DeFi advancements. Despite recent price swings, the continued accumulation by large holders indicates confidence in Ethereum’s future potential and technological development. This trend has also put a spotlight on Kraken’s capabilities in providing institutional-grade custody and trading services Ethereum Co-Founder's $6M Transfer Triggers Speculation as Whales Grab $1.6B in ETH [ 4 ].
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: Ethereum staking ratio has reached 28.65%, and Lido's market share has reached 24.12%.
Polymarket currently predicts a 45% probability that Bitcoin will rise to $100,000 again this year.
Approximately 1.5 million ETH will be unstaking by the end of December.
The altcoin seasonal index remains low, currently at 22.