Ethereum Whales Accumulate $230M as Exchange Balances Turn Negative

• Whale accumulation of $229.91M ETH shows growing confidence in long-term holding.
• Key support at $3,960 and $3,360 may dictate Ethereum’s next price direction.
• Exchange outflows and rising network activity signal structural strength and adoption.

Ethereum is showing signs of structural strength despite recent price weakness. According to Arkham data, three whale addresses acquired nearly $229.91 million worth of ETH from FalconX and Bitgo. This large-scale accumulation comes as exchange balances decline sharply, suggesting long-term investors are preparing for the next market phase. 

Key Support Zones Define Market Outlook

Ali Martinez noted that Ethereum’s realized price distribution highlights two crucial support levels. Around $3,960, approximately 676,000 ETH were last transacted, creating a strong near-term cushion. 

Meanwhile, at $3,360, m…

The post Ethereum Whales Accumulate $230M as Exchange Balances Turn Negative appeared first on Coin Edition.