Whale swoops $422m in ETH as anticipation grows for new Ethereum all-time high
Ethereum all-time high sentiment is building rapidly following a jaw-dropping $422 million ETH purchase by a single whale—fueling speculation that a major rebound is imminent
Ethereum all-time high sentiment is building rapidly following a jaw-dropping $422 million ETH purchase by a single whale—fueling speculation that a major rebound is imminent. Despite the altcoin still trading nearly 50% below its historical high, smart money appears to be betting on a powerful upswing.
Ethereum all-time high talk resurfaced after ETH touched $2,491 early this morning. Though the coin remains down 4% over the past week and 13% in the last two weeks—dragged by macroeconomic uncertainty and geopolitical tensions in the Middle East—fresh whale activity and bullish fundamentals are turning heads.
“Ethereum remains vastly undervalued relative to its potential. The recent whale movement is a strong signal that insiders are positioning for something big,” said crypto analyst Ted Pillows on X (formerly Twitter).
Whale confidence hints at major Ethereum all-time high momentum
A single entity—possibly an institution—has purchased a staggering $422 million worth of Ethereum over the past three weeks. According to Pillows, the latest transaction alone saw $8.91 million in ETH acquired via Galaxy Digital.
This aligns with fresh data from CoinShares, which revealed digital asset funds scooped up $123 million in ETH during the week ending June 23. The growing institutional appetite comes as Ethereum trades well below its all-time high of $4,800 set in November 2021.
“We’re witnessing a notable accumulation trend among institutional players,” said James Butterfill, Head of Research at CoinShares. “Ethereum’s long-term narrative is clearly intact.”
Source: TradingView
While market jitters have temporarily suppressed prices, technical indicators are flashing green. Ethereum’s Relative Strength Index (RSI) has climbed to near 50, suggesting that selling pressure is waning. Meanwhile, the Moving Average Convergence Divergence (MACD) has flattened, hinting at the start of a new bullish cycle.
Combined with Ethereum’s leading position in the blockchain ecosystem—with a total value locked (TVL) of over $61.7 billion—analysts believe ETH is primed for a sustained recovery.
“Ethereum has never stopped innovating. With the network upgrades, rollups, and staking mechanisms, it’s laying the groundwork for its next rally,” said blockchain developer Sreya Malhotra, CTO of dAppWorks.
Ethereum all-time high: not just hype but upgrades strengthen the case
Ethereum’s transition to proof-of-stake and the introduction of EIP-4844 (Proto-Danksharding) are making the network leaner, greener, and more scalable. These technical upgrades, often overlooked by short-term traders, are boosting the long-term investment thesis.
The consistent deflationary pressure post-merge is also helping the case. Ethereum’s burn mechanism is steadily reducing supply, tightening market dynamics.
Given these fundamentals, many now expect Ethereum to hit $3,000 by late July, and potentially $3,500 by September, assuming market conditions stabilize.
Ethereum all-time high narrative gains institutional backing
Ethereum’s status as the dominant layer-one smart contract platform is difficult to dispute. The coin’s undervaluation, compared to its market dominance, has become a growing point among analysts.
The broader narrative is that this level of accumulation is no coincidence. Whether whales are front-running a major announcement—such as a spot ETF approval—or simply preparing for Ethereum’s organic price recovery, the signals are converging.
“When smart money moves like this, the rest of the market usually follows. This could be the last window to buy ETH before it reclaims new highs,” said Lark Davis, crypto educator and YouTuber.
The Ethereum all-time high may not be immediately within reach, but all signs point to a strengthening bullish outlook. With whales accumulating, institutions loading up, and network fundamentals stronger than ever, ETH is positioned to stage a meaningful comeback.
If market sentiment shifts and macro pressures ease, a return to Ethereum’s all-time high could materialize faster than many expect.
Ethereum all-time high momentum is gaining serious traction. With whales accumulating, institutions investing, and fundamentals improving, Ethereum all-time high predictions are no longer just hype—they’re backed by data.
As Ethereum all-time high chatter intensifies, savvy investors are positioning early. If current trends persist, an Ethereum all-time high may arrive sooner than many expect.
Davidson Okechukwu is a passionate crypto journalist/writer and Web3 enthusiast, focusing on blockchain innovation, deFI, NFT ecosystems, and the societal impact of decentralized systems.
His engaging style bridges the gap between technology and everyday understanding with a degree in Computer Science and various professional certifications from prestigious institutions.
With over four years of experience in the crypto and DeFi space, Davidson combines his technical knowledge with a keen understanding of market dynamics.
In addition to his work in cryptocurrency, he is a dedicated realtor and web management professional.