The Ethereum (ETH) market is showing a notable Ethereum whale division. In recent hours, on-chain movements reveal diametrically opposed strategies among large holders. An original participant from the 2014 ICO has moved $6 million in ETH to the Kraken exchange. At almost the same time, the institutional firm Bitmine invested an additional $113 million in the asset. This data was highlighted by the on-chain analytics platform Lookonchain.
The firm Bitmine, associated with Tom Lee of Fundstrat, led the recent accumulation. The company acquired 27,316 ETH, equivalent to $113 million. This purchase raises its total holdings to 3.34 million ETH. The value of its treasury amounts to $13.3 billion. Bitmine has quickly positioned itself as the largest publicly traded ETH treasury. Its consistent accumulation strategy underscores strong institutional conviction.
In contrast, an investor from the ICO era resurfaced after eight years of inactivity. This participant transferred 1,500 ETH, valued at $6 million. This sale represents a 12,971x gain on their initial investment. It is relevant to note that the 2014 Ethereum ICO offered tokens at about $0.30. This investor originally received 20,000 ETH for approximately $6,200. Although the sale is significant, the wallet still holds 18,500 ETH, suggesting they maintain considerable long-term exposure.
The Ethereum whale division deepens when observing other movements. The market shows clear polarization. Pantera Capital, analyzing Bitmine’s strategy, suggests that institutional capital is actively moving on-chain. Tom Lee himself compared Ethereum’s current phase to that of Bitcoin in 2017. Bitmine now holds nearly 1% of the total ETH supply. This massive accumulation reflects a bullish view on the future of the blockchain and decentralized finance.
Are Large Wallets Defining Ethereum’s Next Move?
While institutions buy, other big players show caution or speculate short-term. On-chain data reveals that one trader secured $29 million in profits. This operator demonstrated astonishing precision. They bought 8,240 ETH and 6,000 ETH at the exact market bottoms. Then, they sold at the recent peaks, achieving a 150% return. Simultaneously, another whale has taken aggressive short positions. This bearish bet directly contrasts with the strong institutional buying.
The price of Ethereum, hovering around $4,001, is at a tension point. The market is presenting clearly mixed signals. The strong institutional accumulation by players like Bitmine clashes with profit-taking from early investors. Furthermore, short-term speculation adds volatility. Investors are watching closely. The opposing actions of large wallets indicate strong uncertainty about the short-term price direction. The outcome will depend on which force, long-term accumulation or profit-taking, prevails.
