On-chain data reveals a notable surge in large-investor activity around Ethereum (ETH) and Wrapped Bitcoin (WBTC), with multiple wallets accumulating substantial positions. One prominent whale, tracked by analytics platform Ai Yi, has withdrawn a further 120 WBTC (roughly $7.8 million) from an exchange in just two hours, extending an aggressive buying spree that began at the start of July.
Since July, that same investor has amassed a total of 59,404.19 ETH and 820 WBTC, worth approximately $156 million at current prices. Ai Yi estimates the average purchase cost for ETH at $1,742 and for WBTC at about $64,329. The portfolio has already generated around $8.93 million in unrealized profits as the market recovers.
In a separate but similar move, three brand-new wallets—likely controlled by a single entity—purchased 25,425 ETH for 50.04 million DAI within two hours, averaging an entry price of $1,968. Such coordinated accumulation often signals institutional involvement or sophisticated investors opening fresh positions rather than redistributing existing holdings.
The timing coincides with Ethereum’s improving technical picture. ETH has climbed above its 20-day and 50-day exponential moving averages and is now battling the 100‑day EMA near $1,935–$1,970. A daily close above that level could open the door to the 200‑day EMA at $2,180, while the RSI remains in the mid‑60s, suggesting room for further upside before becoming overbought.
Withdrawals from centralized exchanges to private wallets are generally interpreted as a long-term holding signal, and market participants often view such whale moves as a vote of confidence. However, analysts caution that a single wallet’s activity should not be taken as a definitive market signal, as large transfers may also reflect portfolio rebalancing or custody changes.
