Ethereum (Eth) Whale Purchases: Why Is Everyone Buying?

Ethereum has seen consistent large-scale accumulation by whale investors since November 2025, despite relatively stable market prices. A notable example includes an over-the-counter purchase of 20,013 ETH, valued at approximately $59 million, by a whale wallet identified as 0xFB7.

The continued inflows, lack of significant selling, and an empty validator exit queue suggest strong long-term confidence in Ethereum rather than short-term speculation. However, the reasons behind this accumulation remain unclear, with no clear macro trigger or upgrade announcement driving these transactions.

Market analysts note that such accumulation periods often precede major price movements due to reduced supply and increased pressure from delayed buyers. Still, Ethereum’s price faces resistance levels and lacks strong technical confirmation for a breakout.