Thomas Daniels
Despite a sharp downturn in cryptocurrency markets triggered by escalating geopolitical tensions, a high-net-worth Ethereum whale has accumulated approximately $39 million in Ether (ETH), signaling strong long-term confidence. This strategic acquisition occurred as Ether experienced a steep 12.8% decline, significantly underperforming Bitcoin, which dropped by just 4.7% over the same period.
On June 22, a wallet identified as 0x7355…213 executed two large purchases totaling around 9,400 ETH, boosting its overall Ether holdings to an estimated $330 million. This aggressive move coincided with heightened market volatility following reports of U.S. military airstrikes on Iran, a major escalation in the ongoing Israel–Iran conflict that intensified after Israel’s Operation Rising Lion commenced on June 13.
Despite the macroeconomic headwinds, the whale not only accumulated ETH but also deployed it via Lido’s liquid staking protocol, underscoring a bullish outlook on Ethereum’s longer-term value. This decision to stake assets rather than hold them idle illustrates a calculated strategy to generate yield while maintaining network exposure.
Data from blockchain analytics firm Glassnode further supports the bullish sentiment among institutional players. On June 21 alone, Ethereum wallets holding 10,000 ETH or more increased their cumulative holdings by over 116,893 ETH, valued at approximately $265.3 million. This trend suggests that large-scale investors are treating the recent price correction as a buying opportunity rather than a cause for liquidation.
From a technical perspective, Ethereum appears to be holding above a key ascending trendline. According to crypto analyst Sensei, this support level previously triggered a 55% rally in the April–May 2025 period. If historical patterns hold, ETH could see a short-term rebound toward the $2,735 resistance level, marking a 25% gain from current prices near $2,178.
This combination of technical support, strategic whale accumulation, and on-chain staking activity paints a cautiously optimistic picture for Ethereum. While broader market risks persist—especially in light of global political instability—the conviction demonstrated by high-value investors may provide a stabilizing force for ETH prices in the near term.
