Ethereum whales amassed $250 million ETH in just 4 days.

HD: Ethereum whales strengthen accumulation in $2,900 range.

• Whale accumulated 87,819 ETH in 4 days.
• ETH is trading around $2,900.

In recent days, a significant Ethereum (ETH) holder has acquired a significant amount of the asset and then removed it from exchanges. Despite the notable efforts of these whales, overall supply on exchanges has been increasing recently.

Ethereum whales accumulate millions of dollars worth of ETH.

analyze spot on chain Data has recently shown significant movement in Ethereum whales. According to the data, the whale withdrew 9,277 ETH, worth about $27 million, from Binance.

Also on the same day, the whale withdrew 6,883 ETH and 20 million USDT from 1Inch. The whale’s total accumulation reached 16,160 ETH, or nearly $47 million.

The data also shows that over the past four days, whales have purchased 87,819 ETH at an average price of about $2,875, worth about $252.5 million.

This recent accumulation trend brings the whale’s total holdings to 112,966 ETH, with an estimated value of approximately $334 million.

Exchange Ethereum supply is increasing…

Despite recent accumulation trends and negative exchange inflows reported by CryptoQuant, one might have expected a decrease in supply on exchanges.

However, an analysis of Santiment’s exchange data supply showed a recent increase. The chart shows that supply has increased by about 2 million since around January 13th.

As of this writing, exchange supply has increased from approximately 10.66 million in early January to 12.66 million.

Source: Santiment

It is worth noting that despite this increase, supply on exchanges remained significantly lower than supply outside of exchanges.

Further analysis of off-exchange supply shows that 121.12 million ETH is currently held on exchanges.

ETH slight recovery

A detailed analysis of the Ethereum price trend on the daily charts shows a decline of more than 1% on February 21st. This decline follows the previous day’s surge into the $3,000 price range, which led to a noticeable increase in liquidation volume.

By the close of trading on February 21, the value of ETH had fallen 1.53% to approximately $2,968. At the time of writing, the price has recovered slightly and is trading at around $2,989, up about 0.7%.

Source: Trading View

How much is 1,10,100 ETH worth today?

Looking at the volume chart on the price chart, we see that there was a significant spike in selling pressure in the previous trading session, contributing to the decline in the price of Ethereum.

Nonetheless, notable whale accumulation activity suggests a general belief that ETH price is poised to rise further.