ETH Whale Activity Climbs as Big Holders Buy Into a Double Digit Price Drop

• Whales increased ETH activity despite steep price declines and rising liquidations.
• Major Tornado Cash transfers raised questions about potential Richard Heart-linked sales.
• Institutional wallets kept accumulating ETH as whale #66kETHBorrow expanded positions.

Ethereum’s latest price drop has coincided with a surge in activity from several large wallets, creating a major divergence between market sentiment and high-value trading behavior. At the time of writing, ETH was extending its downturn, falling to $3,165.05 after a 9.59% decline over the past 24 hours. Blockchain data showed that multiple whales continued to accumulate or reposition, despite elevated liquidation risk.

The move unfolded as Ethereum’s market capitalization declined to $382.01 billion, while 24-hour trading volume jumped 34.03% to $52.54 billion, reflecting heightened activity during the dr…

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