On-chain trackers are spotting renewed accumulation among wealthy addresses, hinting that some seasoned players see price weakness as a window rather than a warning.
A major crypto wallet accumulated over $35 million in ETH and several altcoins during recent volatility. Tokens were consolidated on-chain, suggesting strategic positioning rather than short-term trading. Another whale has held and staked 24,000 ETH despite massive unrealized profits shrinking — signalling long-term conviction.
Multi-Asset Buying Spree Targets Ethereum and Select Altcoins
One standout example involves a single wallet that quietly scooped up tens of millions of dollars in majors and mid-caps, forming a broad basket rather than betting on one token. The accumulation surged after the latest wave of volatility — a pattern often associated with whales repositioning for a potential recovery.
Lookonchain’s analysts identified roughly $35 million in fresh capital spread across a slate of well-known projects. Ethereum took the lion’s share, but the buyer also loaded up on Chainlink, Ethena, Aave, Ondo, Uniswap, SKY, and Lido.
Instead of parking funds on exchanges, the purchases moved into a single on-chain wallet, suggesting a coordinated strategy rather than speculative trading. The distribution hints at a long-term approach — leaning on ETH as the core asset while complementing it with protocols tied to staking, infrastructure, and DeFi liquidity.
A Second Whale Chooses Patience Over Profit
The dip-buying isn’t the only sign of conviction. Another large Ethereum address — sitting on tokens purchased months ago at far lower prices — opted to hold and stake instead of realizing what at one point exceeded $55 million in paper profits.
Even after market turbulence shrank its unrealized gains to roughly $14 million, the address has remained locked in, signalling an expectation that the cycle still has room to play out.
What It Suggests About Market Psychology
Whale behavior often runs opposite of retail mood — fear for the crowd can look like opportunity for capital-rich investors.
Both wallets highlight a recurring theme in crypto cycles: deep corrections frequently precede accumulation phases among large holders positioning ahead of stabilization or upside.
Whether the strategy pays off remains to be seen, but on-chain flows imply that some of the smartest money in the sector is leaning into weakness rather than escaping it.