#ETH巨鲸增持# **Whales have been continuously accumulating ETH recently, with some institutions/individuals accumulating over hundreds of millions of dollars, and various trading strategies are in place.**

### **I. Recent Accumulation Trends**
1. **July 24, 2025**:
- **0x8ee...b7d address** increased its holdings by **32,368 ETH** (worth $116 million) through FalconX, accumulating a total of **138,345 ETH** (worth $503 million) since July 19, with an average price of **$3,644**.
- **Another Whale/Institution** increased its holdings by **8,223 ETH** (29.4 million USD) through Kraken, accumulating a total of **58,156 ETH** (211 million USD) since July 14, with an average price of **3,564 USD**.

2. **July 9, 2025**:
- Whales holding **at least 10000 ETH** have accelerated their accumulation, with total holdings rebounding from the low point of **37.56 million** in October 2024 to **41.06 million**, an increase of **9.31%**, which is twice the growth rate compared to the same period in 2022.
- **2,500-2,536 USD** is the key accumulation range, with over **3.45 million ETH** concentrated at this cost price, forming a support level.

### **2. Whale trading strategy differentiation**
1. **Long-term holding type**:
- **Abraxas Capital**: Extracted **185,309 ETH** (399 million USD) from CEX between May 11-13, 2025, during which the price of ETH soared from **1,800 USD** to **2,600 USD** (an increase of 44%).
- **0x8ee...b7d address**: Accumulated **138,345 ETH** (USD 503 million) since July 19, with an average price of **3,644 USD**, indicating a long-term bullish outlook on ETH value.

2. **Swing Trading Strategy**:
- **nemorino.eth**: Bought **3,088 WETH** at an average price of **$2,488** on May 12, 2025 (totaling $7.68 million), with an unrealized profit of **$124,000** after depositing into Aave.
- **WLFI Associated Address**: On May 12, 2025, deposited **50 WBTC** and borrowed **4 million USDC**, purchased **1,590 WETH** at an average price of **2,515 USD**, with a total holding value of **15.113 million USD**.

3. **High Risk Short Position Type**:
- **Four-time battle ETH 75% win rate Whale**: On August 3, 2025, increased position of **10,000 ETH short position**, cumulatively holding **50,000 ETH short position** (170 million USD), with an unrealized profit of **12.25 million USD**. It expands profits through rolling contracts, opening price **3,634 USD**, liquidation price **3,634 USD**.

### **3. Market Impact and Risk Warning**
1. **Market Indicator**：
- Whales increasing their holdings are often seen as a signal of confidence in the long-term value of ETH. For example, from November 2020 to January 2021, whale holdings increased by **4%**, and the price of ETH soared from **$460** to **$1,220**.
- After the Whale accelerated its accumulation in July 2025, the price of ETH once rose to **3,600 USD**.

2. **Short-term volatility risk**:
- Some Whales are trapped due to market adjustments. For example, a certain Whale built a position of **34,001 ETH** at an average price of **$2,753** and is currently facing a floating loss of **$24.14 million**, but still added **2,000 ETH** (worth $4.1 million) on August 6, 2025, in an attempt to lower the average price.
- The cryptocurrency market is highly volatile, and investors need to carefully assess risks in conjunction with market trends.

### **4. Key Data Summary**
| **Time** | **Whale/Institution** | **Operation** | **Amount (ETH)** | **Value (USD)** | **Average Price (USD)** |
|----------------|---------------------|-----------------------------------|----------------|------------------|------------------|
| 2025-07-24 | 0x8ee...b7d | Increase holding | 32,368 | 116 million | 3,644 |
| 2025-07-24 | Another Whale/Institution | Increase Holdings | 8,223 | 29.4 million | 3,564 |
| 2025-07-09 | Whale holding ≥10,000 ETH | Cumulative increase | 4.106 million | None | None |
| 2025-05-12 | nemorino.eth | swing buy | 3,088 | 7.68 million | 2,488 |
| 2025-05-11 | Abraxas Capital | Long-term accumulation | 185,309 | 399 million | 1,800-2,600 |
| 2025-08-03 | Four Battles ETH 75% Win Rate Whale | Increase Short Position | 10,000 | 17,000,000 | 3,634 |

**Summary**: ETH Whale accumulation behavior shows diversified strategies, coexisting long-term holding and swing trading, while hedging risks with short positions. The market needs to closely monitor Whale position changes and key price ranges (such as the $2,500 support level) to assess the sustainability of the trend.