Key Notes
- Arkham Intelligence identified four connected whale addresses purchasing $357.24 million ETH from institutional broker FalconX.
- Spot Ethereum ETF inflows reached $1.83 billion over five trading sessions alongside broader institutional crypto adoption.
- ETH tests critical support at $4,747 near 50-period EMA, with potential bottom formation since August 26 whale activity began.
Four crypto whales have scooped up over $350 million of Ethereum’s native token, ETH, in the past two days, raising questions about what it means for its price. Whale is a moniker for large investors with the capacity to allocate huge sums, which can often directly influence the market’s direction.
Precisely, an Arkham Intelligence analyst spotted four addresses with similar patterns and time schedules purchasing $357.24 million of ETH from FalconX, an “institutional crypto prime brokerage,” as described by the company itself.
THESE WHALES JUST BOUGHT $350M OF $ETH
4 Whale addresses bought $357.2M of ETH in the past 2 days alone. They have all been accumulating from FalconX at similar time schedules.
Are these whales buying the bottom?
Addresses:
0x566bd75621Db03B4d046e80F87F0A2B489c39Dd3… pic.twitter.com/374BhjPoEs— Arkham (@arkham) August 28, 2025
The identified patterns suggest these addresses could belong to the same entity, or at least to entities connected with each other. Responding to these signals, the analyst questions whether these whales are “buying the bottom,” in the sense that they probably expect—and could somehow influence—Ethereum’s price to go up from here.
On a similar note, inflows into spot Ethereum ETFs have skyrocketed to a total of $1.83 billion during the last five trading sessions, as Coinspeaker reported earlier today. The institutional activity is not only around ETH but also on Bitcoin and other cryptocurrencies, all with significant purchases in what looks like a bottom. For example, Smarter Web Company purchased 45 BTC at around $111,000 each, and Bitplanet will deploy $40 million into Bitcoin, becoming South Korea’s first institutional BTC treasury.
ETH Tests Key Support at $4,747 Amid Institutional Buying Surge
Regarding Ethereum
ETH
$4 485
24h volatility:
2.8%
Market cap:
$542.15 B
Vol. 24h:
$31.69 B
, technical indicators and historical price action corroborate the idea of a potential bottom for ETH and other cryptocurrencies.
Ethereum is currently changing hands at $4,747 per token, testing a potential support level. If this price support holds, ETH could bounce back up, consolidating the thesis of a potential bottom marked by large institutional and crypto whale purchases.
Interestingly, Ethereum could have indeed formed a bottom on August 26—since Arkham spotted the four whales that started buying—at around $4,320. Before that, we saw two other likely bottom formations, pushing the ETH price up on August 20 and 21, at $4,070 and $4,215, respectively.
Ethereum (ETH) 4H price chart on August 28 | Source: TradingView
The current price action happens really close to the 50-period exponential moving average in the four-hour chart (4H50EMA), which is an important indicator for the cryptocurrency. Whether a bottom will form at these levels is yet to be seen, but crypto whales and institutions apparently believe this will be the case.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Vini Barbosa has covered the crypto industry professionally since 2020, summing up to over 10,000 hours of research, writing, and editing related content for media outlets and key industry players. Vini is an active commentator and a heavy user of the technology, truly believing in its revolutionary potential. Topics of interest include blockchain, open-source software, decentralized finance, and real-world utility.