Are Whales Betting Big on Ethereum Again?
2025-12-09 • Ian Irizarry
TL;DR: Major Ethereum (ETH) “whales” — wallets that tend to track institutional smart money — are aggressively taking long positions. As of December 8, they’ve accumulated over 136,000 ETH (worth ~$426 million), showing renewed confidence while the broader crypto market stabilizes.
If you’re a company seeking funding, this signals a promising backdrop for ETH-based projects — big investors are buying in.
Whale wallets stacking ETH — what it means for institutions and startups
Here’s the thing: recent on-chain data shows some seriously smart, institutional-level capital is piling into Ethereum. Whale wallets have opened long positions totaling 136,433 ETH. That’s not small change. CoinGlass
Let me break down a few big moves:
- The wallet “BitcoinOG (1011short)” holds about $169 million in ETH longs. CoinGlass
- Meanwhile, “Anti-CZ” is long roughly $194 million in ETH. CoinGlass
- And “pension-usdt.eth” picked up 20,000 ETH, around $62 million, betting on an upward swing. CoinGlass
These aren’t just casual bets; these whales are positioning strategically for a medium-term gain. Just a quick caveat: keep in mind, big whales can also influence volatility when they move fast.
Why ETH bulls are stepping into the spotlight now
1. Market seems to be stabilizing
After a rough patch, the wider crypto space looks like it’s catching its breath. ETH recently held steady above $3,000, hinting at a possible support level. Technical pressure is easing, and macro factors like softer interest rate expectations are giving risk assets a boost. Finbold
2. Institutional whales aren’t just followers
I’ve found these wallets, often dubbed “smart whales,” have earned their stripes through consistently strong moves. When they start loading up, it’s not random—usually, others follow, or retail traders get caught up in FOMO. This momentum builds from the top down. CoinGlass
3. ETH upgrades are making a difference
Scalability improvements, better Layer-2 throughput, and lower fees — these changes are real and meaningful. They shift the economics for projects built on Ethereum or issuing tokens. It means users and developers are more likely to stick around. Finbold
The real risks behind these large ETH positions
Selling pressure from exchange flows is a possibility. BlackRock, for example, deposited almost 24,791 ETH (around $78 million) into Coinbase Prime — an exchange where they could offload at any time. Finbold
Liquidity is still pretty thin. Big whales moving out quickly can shake prices sharply. The bigger these long positions get, the more dramatic potential sell-offs can be.
Macro tailwinds aren’t guaranteed. A spike in interest rates or increased regulatory risks could flip sentiment fast — especially for ETH projects and altcoins, which are inherently riskier.
What this means for companies hunting for funding
If your project or token is built on ETH, you can actually lean into this trend:
Highlight whale interest in your pitch. Say something like, “Big institutional capital is piling into ETH, and our token rides on that growing foundation.” Investors love that kind of confidence.
Zero in on scalability and utility. Since ETH’s upgrades are a real selling point, make sure to show how your product benefits from Layer-2 solutions, gas savings, or other enhancements.
Keep an eye on exchange deposits from major players. These can hint at when the market might swing from accumulation to profit-taking — crucial info for timing your fundraising or token sales.
Example: ETH whales vs competitor assets in real time
Let’s keep this short: ETH whales have opened $426 million in long positions — that’s a big number, especially compared to slower Bitcoin moves. CoinGlass
ETH bounced off $3,000 recently. It’s still not close to previous highs, but with heavy capital behind it, momentum is pushing resistance levels like $3,500 into view. Finbold
Plus, some funds are betting through derivatives like futures and options, adding complexity — and risk. Still, accumulation in spot or long contracts generally signals confidence. CoinGlass
FAQ: What companies raising funds usually ask
Q: Is whale accumulation a reliable sign to start fundraising?
A: Generally yes. Whales tend to buy before larger market moves. If you're launching, having big capital backing ETH gives your project credibility. But timing matters — avoid fundraising during hype cycles you can’t sustain.
Q: Could this be another “false pump”?
A: Always possible. Key resistance levels, macro shocks, or regulatory slides can reverse trends. That said, seeing multiple whales stacking long positions — not just one — adds confidence that this isn’t just noise.
Q: Where should founders focus their messaging?
A: Emphasize technological soundness (gas, scaling, Layer-2 compatibility), institutional readiness (regulation, custody), and real-use cases. Also show tokenomics that favor long-term value retention.
Q: How should companies measure “whale flow” to stay ahead?
A: Monitor real-time on-chain tools: Lookonchain, Arkham Intelligence, and CoinGlass. Pay attention to whales entering long positions, large inflows from institutions to exchanges, or exchange withdrawal patterns. These can be leading indicators. Lookonchain Arkham Intelligence CoinGlass
Whales are signaling that Ethereum isn’t just surviving but recovering. For companies in this space, momentum is on your side. If you're raising funds or building, riding that wave can boost growth, partnerships, visibility — maybe even your valuation. Interested in weaving this into your pitch deck or investor materials? I’m happy to help craft or polish those.