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A notable shift is taking place in Ethereum’s on-chain dynamics as large investors—commonly referred to as whales—begin accumulating significant amounts of ETH despite recent price volatility. According to CryptoQuant analyst OnChainSchool, accumulation-focused addresses have collectively purchased over 640,000 ETH within just 48 hours.
This insight, shared by the analyst on April 24, 2025, underscores a strategic accumulation trend. These wallets are not involved in selling; instead, they are systematically increasing their holdings—indicating long-term confidence in Ethereum’s fundamentals.
Whale Buying Signals Strong Long-Term Sentiment
Even as Ethereum’s price remains under pressure, long-term investors appear undeterred. OnChainSchool notes that whale addresses have steadily ramped up purchases, especially noticeable through CryptoQuant’s “Accumulating Addresses Inflow” chart. This chart reflects a sharp rise in green candles during the last week of April, showing daily inflows surpassing 300,000 ETH between April 20–22.
Such inflows point not only to high demand but to accelerating momentum, suggesting whales are seizing the opportunity to enter at lower price points.
Market Sentiment Begins to Shift
The wave of accumulation coincides with a changing market narrative. While short-term price action has shown weakness, Ethereum’s long-term technical foundation is strengthening. OnChainSchool emphasizes that this behavior may reflect a broader psychological pivot in the crypto market—one where confidence is returning despite broader macro headwinds.
Ethereum’s ability to attract long-term capital during uncertain times positions it uniquely among smart contract platforms. As Turkish NY Radio highlights, this behavior may lay the groundwork for a sustainable recovery if macro conditions align.
ETH Market Stats and Price Trends
At the time of writing, Ethereum is trading at $1,761.75, down 1.6% over the past 24 hours. Trading volume for the day has reached $15.62 billion, with a total market capitalization of approximately $213 billion.
Despite the day’s decline, Ethereum has shown signs of short-term recovery. The past 7 days have yielded a 10.5% gain, while the two-week performance is up 12%. However, the monthly trend remains bearish at -14.6%, and the year-over-year chart still shows a decline of just over 45%.
What This Means for Investors
The divergence between price pressure and rising whale accumulation could serve as a leading indicator of a potential trend reversal. As the on-chain data suggests, smart money may be preparing for a longer-term Ethereum rebound.
Investors are encouraged to monitor both accumulation trends and market sentiment closely, especially as Ethereum continues to evolve in its role within the broader decentralized finance (DeFi) and Web3 ecosystem.
