Ethereum Whale Awakens: $28M Buy Sparks Market’s Comedy of Recovery

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Key takeaways:

  • Dormant Ethereum whale, who’d been napping longer than your grandma’s Sunday naps, suddenly buys $28 million worth of ETH just as prices drop 13%. Coincidence? Well, yes, but also impressive.

  • Big players like whales, BitMine, and ETFs are splurging billions on ETH, proving that the old saying about “buy low, sell high” still confuses everyone but the billionaires.

  • From the ashes of despair rises a “V-shaped” recovery – a pattern so nostalgically bullish it makes the 80s look sluggish, with some analysts eyeing $7.5K to $20K – because who needs boring old steady growth?

Apparently, a legendary Ethereum whale, whose tale has been quieter than a mime at a poetry reading, decided to resurface after four years of silence. And what’s better than a grand entrance? Buying $28 million worth of ETH, that’s what. The market went all, “Ooh,” and “Aah,” because this sort of thing is practically a market meme now.

Rich Ethereum addresses are buying the dip, because who needs predictable financial wisdom when you have FOMO?

On Tuesday, our mysterious whale scooped up 6,334 ETH – roughly $28.08 million – from Kraken, just as the price slipped from its usual overinflated heights above $5,000 down to around $4,315. It’s like grabbing the last slice of pizza just as everyone else bemoans they’re full.

Ethereum whale transaction

This move was as subtle as a fireworks display at a funeral; whales moving coins away from exchanges often signals a long-term commitment, like a relationship that’s been through a few bad breaks but still swipes right.

Meanwhile, other whales are making even bigger splashy purchases.
Bitstamp, the exchange that reportedly still exists, sent a cool 20,000 ETH into the abyss of unknown wallets because apparently, that’s just what crypto billionaires do now. And one whale – probably the same one, probably not – bought and staked a mind-boggling $2.55 billion worth of ETH via Hyperliquid (yes, that’s a thing now).

ETH transfer

BitMine, that innovative little startup, has been stacking ETH like it’s going out of style. They now hold over 800,000 ETH, worth a cozy $3.7 billion, with enough reserves to keep shopping for ETH till the end of time.

And let’s not forget the ETF inflows – more than $1 billion since August 21 – because Wall Street and crypto enthusiasts are apparently playing a game of “Who Can Throw Money At Ethereum Faster?”

V-Shaped Recovery: Because Who Doesn’t Love a Comeback Story?

Thanks to a rally from the summer lows of about $3,350 to just over $4,000, Ethereum is teasing a “V-shaped” comeback, which, according to some seasoned analysts like GalaxyBTC, is just the technical setup for a rocket to the moon. Think back to late 2020, when ETH took a nosedive to around $100 and then, like a caffeinated squirrel, shot above $4,000 – these things happen.

ETH V-shaped recovery

And the forecasts? Oh, just casual predictions of ETH reaching $10K, $20K, or even a nice little $7,500 by the end of 2023 – because why not shoot for the stars and land on the moon, right?

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2025-08-26 20:08