22-3-2025 – Large-scale Ethereum investors have embarked on a remarkable buying spree, according to prominent cryptocurrency analyst Ali Martinez. Taking to social media platform X, Martinez disclosed that these heavyweight market participants—colloquially known as ‘whales’—have acquired approximately 120,000 Ethereum tokens within a mere three-day window, representing a substantial investment of roughly $236 million.
Market implications under scrutiny
The cryptocurrency community has responded with mixed sentiments to this development. Whilst some enthusiasts view the substantial acquisition as a harbinger of positive price movement, more cautious observers warn against drawing hasty conclusions based solely on whale behaviour.
Ethereum presently commands a market capitalisation of $239.18 billion, positioning it firmly among the cryptocurrency elite. Data from CoinMarketCap indicates a modest price uptick of 0.70% over the past day, with the token trading at $1,982.66. However, this minor gain stands in stark contrast to a troubling quarterly performance, with Ethereum suffering a precipitous 40.93% decline over the previous 90 days.
Historical patterns and trading volumes
This recent acquisition does not stand in isolation. A comparable scenario unfolded in February 2025, when whales collectively purchased approximately 430,000 ETH within a similar timeframe, establishing what appears to be a recurring pattern of concentrated accumulation.
Corroborating evidence from Etherscan reveals a notable surge in high-value transactions exceeding $100,000, lending credence to Martinez’s observations regarding increased whale activity. The platform’s 24-hour trading volume registered at $9.13 billion, marking a significant contraction of 23.88% from previous levels.
Financial analysts specialising in digital assets suggest that such concentrated purchasing activity could potentially introduce heightened volatility into Ethereum’s trading dynamics. Historical precedent indicates that substantial whale movements often precipitate notable shifts in market control distribution.
