Tom Lee Linked Wallet Pulls In $80M ETH as Ethereum Presses $3,400

A wallet linked by Arkham to Tom Lee’s Bitmine received about $80 million in Ether, lifting its balance to roughly 24,068 ETH. Meanwhile, Ethereum traded near $3,310 as price tested the $3,350 to $3,400 resistance band on the daily Binance chart.

Tom Lee-linked wallet receives about $80 million in Ether, Arkham data shows

A wallet tracked by blockchain analytics firm Arkham and linked to Tom Lee’s Bitmine received roughly $80 million worth of Ether in a single inflow, according to on-chain data visible on Arkham’s platform. The address now holds about 24,068 ETH, with the portfolio value shown near $80.16 million as Ether traded around $3,330 at the time of observation.

Tom Lee Linked ETH Wallet Activity. Source: Arkham Intelligence/X

The Arkham dashboard shows the ETH arrived from a FalconX hot wallet in two transfers recorded roughly two hours apart. The first and largest transfer accounted for nearly the full amount, while a much smaller follow-up transfer appeared shortly after. No immediate outbound transfers were visible, leaving the wallet balance largely intact following the inflow.

This activity marks the first on-chain ETH accumulation tied to Lee-linked entities that Arkham has flagged in about three weeks. Arkham data also indicates the wallet holds only Ether, with no other token balances listed, suggesting a focused allocation rather than a diversified crypto portfolio.

Arkham has previously said Bitmine still has close to $1 billion available for potential Ethereum purchases. While neither Lee nor Bitmine has publicly commented on the latest transfer, the size and structure of the inflow point to continued institutional-scale exposure to Ether rather than short-term trading activity.

Ethereum tests $3,400 reclaim as support holds

Meanwhile, Ethereum traded near $3,310 on the daily ETHUSDT chart as price pushed into the $3,350 to $3,400 resistance band marked on the chart. At the same time, ETH held firm while Bitcoin pulled back, which kept the rebound structure intact. However, sellers still defended the same ceiling that capped earlier rallies, so the market stayed stuck at a decision level.

Ethereum TetherUS Daily Chart. Source: Ted Pillows via X

Ted Pillows (@TedPillows) said ETH is still trying to reclaim $3,350 to $3,400. He added that Ethereum has held up well despite the BTC correction. He also said a break above $3,400 with strong volume could produce a 10% to 15% weekly candle, which would signal momentum returning after weeks of choppy trading.

The chart mapped two clear paths from here. First, ETH can reclaim $3,400, then retest that zone as support, and then target the next resistance block near $3,900. Second, ETH can reject from the $3,350 to $3,400 band and rotate lower, where the chart highlighted the $3,058 support area as the first level to watch. If that floor fails, the next demand zones sit near $2,750 and $2,510, both tied to earlier bases and prior rebounds.