Ethereum’s Wild Ride: Whales Accumulate While Others Cash Out 🐳💰

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Ethereum (ETH) has finally broken the $3,400 barrier, a feat not seen in over six months, and it’s like the crypto world just got a shot of espresso. 💪

Some investors are taking their profits and running, while others are piling in like it’s the last train to the moon. 🚄

SharpLink Gaming and World Liberty Financial: The New Ethereum Powerhouses

BeInCrypto reported that Ethereum has now become the 30th largest global asset, even outshining Johnson & Johnson. Who knew a digital coin could be more valuable than a company that makes Band-Aids? 🤷‍♀️

Yesterday, ETH hit a high of $3,424 before taking a tiny dip. But over the past 24 hours, it’s still up by 6.87%, trading at $3,324 at the time of writing. Not too shabby, right? 🤑

Amid this surge, on-chain data is showing some major moves by the big whales. SharpLink Gaming, which launched its Ethereum treasury strategy last month, is doubling down on its bet. 🎲

According to data from EmberCN, the firm has become a major accumulator, adding 20,279 ETH, valued at about $68.38 million. SharpLink bought this ETH stack through Coinbase Prime and Galaxy Digital. 🏦

“In the past 8 days, they’ve accumulated 111,609 ETH ($343.38 million),” Lookonchain posted.

This latest acquisition brings SharpLink’s total ETH holdings to 321,000 ETH, with an average purchase price of about $2,745. The firm is now sitting on an unrealized profit of $204 million. Not bad for a day’s work! 💸

Besides SharpLink, other entities are also beefing up their ETH positions. OnchainLens highlighted that President Donald Trump-backed DeFi project, World Liberty Financial (WLFI), acquired 3,007.4 ETH worth around $10 million. The purchase price per coin was $3,325. Trump’s crypto? Who would’ve thought? 🤔

Furthermore, Lookonchain noted that an address linked to Fenbushi Capital withdrew 4,000 ETH from Binance, signaling potential strategic repositioning. Similarly, an unknown whale withdrew 7,980 ETH worth $26.86 million from Kraken. 🐳

EmberCN added that this entity has pulled out a total of 88,292 ETH, equivalent to $250 million, from Kraken since last week. At present, the unrealized profit stands at $49.5 million.

“This address is a new one and has only interacted with Kraken’s hot wallet. Personally, I feel this could be the address of a US publicly traded company with an ETH reserve plan that hasn’t disclosed its address yet. Of course, there’s also a possibility that this is Kraken’s own cold wallet for storing ETH though this is less likely,” the on-chain analyst stated.

Whales Take Profits as Ethereum’s Price Surges

Meanwhile, profit-taking and selling activities are also evident among other market participants. Trend Research, an investment firm, offloaded 79,470 ETH, valued at $250 million at an average price of $3,145 over the past two days. 📉

The firm had acquired 184,115 ETH, worth $390 million, at an average price of $2,118 between February 26 and June 20. Their Ethereum holdings now stand at 105,664 ETH, valued at $354 million. 🤑

Another whale sold 98,610 ETH, valued at $278 million, at an average price of $2,819 over the past eight days. They still hold 35,022 ETH, worth $117.5 million. The holder previously made over $30 million in profit from Ethereum. 🎉

Lastly, Argot Collective, a non-profit organization, sold 1,210 ETH for 4.09 million USDC. The foundation had received 7,000 ETH in operational funding from the Ethereum Foundation.

“Since starting to sell ETH for stablecoins on 7/11, they have converted 3,626.6 ETH into 11.2 million USDC, with an average selling price of $3,089,” EmberCN revealed.

These buying and selling actions reflect the contrasting strategies investors are employing at the current rally. SharpLink’s accumulation positions the firm as a key player, while Trend Research’s sell-off introduces a counterbalance to the ongoing bullish trend. It’s a wild ride, and we’re all just along for the journey! 🚀

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2025-07-17 08:16