Ethereum Whales Stack ETH at FASTEST Pace in Years!

Key Points

• Whale wallets holding 10,000+ ETH hit 1,200, marking fastest accumulation since 2021.
• Bitmine boosts ETH holdings to $8.66B with a $69M buy from Galaxy Digital.
• Over $8B in shorts could be liquidated if ETH breaks above the $5,000 level.

Ethereum is seeing a surge in whale activity as wallets holding over 10,000 ETH rise sharply in 2025. According to Glassnode, these addresses increased from under 900 to nearly 1,200 since early this year.

Ethereum Mega-Whale Address Count (Balance > 10k ETH) | Source : glassnode

This marks the fastest accumulation rate in years and the highest number of such wallets since the 2021 bull market. At current prices near $4,484, each wallet holds over $44 million in ETH.

Institutional Moves and High-Leverage Bets Add to Bullish Setup

Institutional interest is growing rapidly as Tom Lee’s Bitmine added another $69 million in ETH from Galaxy Digital. Bitmine now holds $8.66 billion in ETH, confirming a strong institutional conviction in Ethereum’s future upside.

In parallel, an anonymous whale opened a $102.3 million long position at $4,550 with 25x leverage, showing high-risk confidence. This position risks liquidation near $3,877 and currently holds a $536K unrealized loss with $11K in funding costs.

Short Squeeze Pressure Builds as ETH Eyes $5K

Meanwhile, according to Coinglass, if ETH breaks above $5,000, over $8 billion in short positions could face forced liquidation. The short cluster between $4,600 and $5,000 shows high exposure, signaling a potential volatility spike.

ETH Exchange Liquidation Map | Source : Coinglass

Whale buying and leveraged longs are aligning with this pressure zone, increasing the likelihood of a sharp upside move. A breakout above $5,000 may lead to cascading liquidations, forcing shorts to buy back at higher prices.

Price Action Remains Mixed Despite Accumulation Strength

ETH trades at $4,484.15, showing a modest 0.18% gain over the past hour but remains down over the week. The 24-hour loss stands at 1.27%, while the 7-day decline totals 4.87%, showing lingering weakness.

Despite price softness, whale accumulation and potential liquidations create a bullish structure. If ETH holds above $4,400, it may stabilize and rebound.