A recent analysis from crypto analyst Darkfost, published by CryptoQuant, reveals a sharp uptick in Ethereum whale activity on Binance—marking the first major return of large holders since late 2023.
The on-chain chart, which blends spot and futures order flow, cumulative volume, and key moving averages, is now flashing a rare and historically bullish signal. According to Darkfost, the last time this metric aligned so strongly was in December 2023, just before ETH surged from $2,200 to $4,000.
Institutional Wallets Signal Confidence in ETH Recovery
Since May 19, Ethereum whale orders have reappeared with increasing frequency on Binance. This resurgence of large-volume trades suggests growing confidence among institutional players and deep-pocketed investors.
While whales typically don’t aim to time exact bottoms, they often enter early during the formation of broader bullish trends. This behavior, now visible on Binance’s ETH order books, points to renewed interest in building long-term positions.
May Emerges as Key Window for Accumulation
Darkfost’s report highlights that May may be one of those rare strategic entry points that seasoned players are quick to identify. The reemergence of whale activity at this stage may signal the early stages of a macro reversal for Ethereum.
With ETH consolidating and sentiment improving, the data suggests major players are already positioning for a potential breakout—mirroring past accumulation patterns that preceded major rallies.
As the market continues to digest broader macro conditions, whale behavior remains one of the clearest clues to future momentum.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/whale-activity-on-binance-hints-at-ethereum-momentum/