On-chain data shows a single #Ethereum whale accumulated ~$1.69B worth of + $ETH since early November, with a large portion funded via leveraged borrowing on Aave.

The accumulation coincides with increased holdings among wallets holding 10K-100K #ETH, suggesting coordinated high-net-worth and institutional buying during price consolidation below $3K.

Despite some rotation out of ETH by traders like Arthur Hayes, whale behavior points to strong long-term conviction, with ETH currently testing the critical 200-day EMA support zone.

ETHUSDT

Perp

2,937.2

+0.07%