Ethereum Whales Go on $159 Million Buying Spree as Crypto Market Stages Dramatic Recovery

Ethereum Whales Resume Aggressive Accumulation

Large Ethereum holders have re-emerged as major buyers this week as cryptocurrency prices mount a significant recovery following Monday's market turmoil that saw over $600 million in long liquidations.

Major On-Chain Purchases Signal Confidence

On-chain data reveals a series of substantial Ethereum purchases by prominent wallets:

• One large holder purchased 18,345 ETH (worth approximately $55 million) from BitGo on Tuesday
• Another wallet acquired 4,597 ETH (worth roughly $13 million) from Binance early Wednesday
• Yet another major holder bought 30,278 ETH (worth $91.16 million) from Kraken just hours ago

These whale activities coincide with a broad market rebound from early December losses, lifting Bitcoin, Solana, and other digital assets higher.

Market Performance Metrics Show Recovery

Ethereum has surged more than 8% over the past 24 hours and is currently trading at $3,015, according to CoinGecko data. Bitcoin has gained 7% while Solana has jumped more than 10% during the same period.

Derivatives Data Points to Renewed Bullish Sentiment

Adding to the positive momentum, taker buy volume—representing the volume of buy orders filled by takers in perpetual swaps—spiked to $148.7 million across all exchanges on Tuesday.

According to Maarten Regterschot, a verified analyst at CryptoQuant, this demand represents a "strong signal of aggressive market buying."

Futures cumulative volume delta has also ticked up relative to spot cumulative volume delta, Velo data shows. When perpetual CVD and open interest trend higher simultaneously, it typically indicates investors are opening new long positions.

Expert Analysis on Market Direction

Stephen Gregory, founder of crypto trading platform Vtrader, told Decrypt: "If we see more DATs trade below mNAV, there will be some acquisitions with institutional investors swooping in for discounted Ethereum."

He added: "I think the correction has run its course, and the macro tailwinds will push Ethereum back up."

This whale accumulation pattern suggests institutional and large-scale investors are positioning themselves for continued upward momentum in the cryptocurrency markets.