Update
Ethereum Whales Show Aggressive Buying Activity
Ethereum (ETH) is experiencing an aggressive wave of whale accumulation as large investors deploy tens of millions of dollars to purchase the second-largest cryptocurrency. One unidentified whale spent $62.97 million over five hours to acquire 27,553 ETH, averaging $2,286 per token. Another whale, identified by wallet address 0x9EcA, spent 37.96 million USDC in two hours to purchase 16,658 ETH, averaging $2,279 per token. These transactions suggest sustained buying interest despite market uncertainty, potentially indicating institutional activity. Ethereum's daily chart shows a challenging technical environment, with the cryptocurrency trading near $2,288 after a significant retreat from its October highs around $2,800. The price is below several important moving averages, indicating short-term bearish momentum. The $2,200–$2,250 region represents an important support zone that buyers must defend to prevent further deterioration.