An Ethereum whale address added 900 ETH on May 5, bringing its total holdings to 16,900 ETH and pushing its unrealized profit above $4.6 million.
On-chain data shows the accumulation began on February 15, with the entity consistently adding to its position over the past 80 days. This latest purchase reinforces a bullish stance, even as the broader market sees capital rotate into higher-risk presale projects.
The whale's total position of 16,900 ETH was acquired for approximately $35.67 million, reflecting an average entry price of $2,110 per token. Despite recent market volatility in the $2,250–$2,370 range for Ethereum, this large-scale investor has continued to buy.
This persistent accumulation from a single large entity reduces the freely traded supply of ETH and signals strong conviction, which can positively influence broader market sentiment. Prediction markets reflect this confidence, with the chance of Ethereum's price remaining above $1,800 on May 5 priced at 99.9 percent. Observers will be watching to see if this accumulation continues and how it might affect Ethereum's price trajectory relative to Bitcoin and other major assets.
This article is for informational purposes only and does not constitute investment advice.
