Ethereum Price Drop to $3,400 Triggers Whale Accumulation

Ethereum briefly dipped below $3,400 but experienced a 3.04% daily increase due to increased accumulation by major entities. Whales acquired 394,682 ETH amid heightened market activity, highlighting a strategy of buying in volatile conditions.

Ethereum (ETH) experienced a brief drop below $3,400, despite reporting a 3.04% daily increase. The movement led to significant activity from whales and institutional investors, purchasing large volumes of the cryptocurrency during this price fluctuation.

The price drop of Ethereum below $3,400 stirred notable buying activity from large investors, indicating confidence in the currency’s potential to rebound. This event shows strategic accumulation , reflecting broader market behavior and future expectations.

Major whale entities, including the largest known as the “Aave whale,” took advantage of Ethereum’s price dip, acquiring 394,682 ETH worth approximately $1.37 billion. Key figures associated with Ethereum, including its leadership, have not publicly commented on the event as of the latest data.

“Eight major entities collectively purchased 394,682 ETH, valued at approximately $1.37 billion over the past three days.” — Lookonchain, On-chain Analytics Platform source

The dip triggered a notable shift, with $222 million outflows from exchanges, signaling a preference for long-term holding instead of panic selling. Despite the price volatility, Ethereum’s network demonstrated resilience by processing a record 24,192 transactions per second.

The market responded to these acquisitions with a surge in realized volatility and a drop in open interest on derivatives exchanges. This caused forced liquidations and reflected strategic positioning rather than a market capitulation, underscoring confidence in Ethereum’s future outlook.

Historically, accumulation during market downturns precedes price recoveries, evident in past actions by entities like Bitmine Immersion Technologies, which previously purchased large ETH volumes . Data shows a strategic consolidation aligning with historical patterns for medium-term recovery.

Ethereum’s current situation highlights resilience in its utility and network stability amid volatility. This event underscores the strategic actions of major parties and their impact on cryptocurrency market dynamics. Expert opinions remain cautiously optimistic based on observed patterns and past experiences.