Crypto news

Ethereum Whale Frenzy: How Mega-Rich Wallets Sparked a Feeding Frenzy Not Seen Since 2017!

BBG News

You know things are getting interesting when Ethereum whales start acting like Black Friday shoppers who just heard there’s a 99% off sale on avocado toast. These are the folks who treat $25 million like the rest of us treat loose change in a couch cushion, scooping up tokens like candy at a parade. On-chain data says they’re back at it—hoarding ETH with the fervor of someone stockpiling toilet paper in 2020. 🐋

Whales Are Buying, and Not Just Because They’re Bored

According to Glassnode, who must spend their days scrutinizing wallets with more zeros than a standardized test, the big-money brigade has rediscovered its appetite for ETH. We’re talking about a group of investors who hold between 1,000 and 10,000 tokens—a respectable sum that could buy you an island or, more realistically, a decent apartment in Manhattan.

Now, these players aren’t the Godzilla of the crypto world (that’s reserved for the mega-whales who can actually cause tsunamis), but they’re still the kind of folks who get unsolicited LinkedIn requests from Goldman Sachs interns. If they’re buying, you can bet it’s not because they have a coupon.

Want to see what all the fuss is about? Here’s a chart, because no one trusts numbers unless they’re in a graph. (And if you do, you’re probably the reason we all still get those “Nigerian prince” emails.)

Imagine the Starbucks line right after Pumpkin Spice returns: that’s what happened on June 12th. Over 871,000 ETH was added to whale wallets in a single day, setting a record for the year. Glassnode points out this hasn’t happened since 2017, which—if you’re bad with dates—was approximately four crypto-lifetimes ago. Clearly, someone’s binging.

Does this mean the whales have a secret crystal ball? Hard to say. But either they know something we don’t, or they’ve just discovered a new hobby that doesn’t involve buying Jeff Bezos coffee companies.

If you thought the madness ended with actual crypto holders, think again. Spot ETFs are now stepping into the ring. These magical instruments exist so your aunt can buy Ethereum without ever learning what ‘private keys’ are, or why her internet browser has twelve pop-ups. Because nothing says cutting-edge technology like using Wall Street to buy imaginary coins. 🎩💸

Demand for US ETH spot ETFs has gone through the roof, or at least what counts as ‘the roof’ when you’re measuring in the hundreds of thousands of ETH. (If you find any lying around, do me a favor and send it my way.)

Last week alone, 195,320 ETH found its way into these ETFs—the kind of net inflow that makes hedge fund managers break a sweat, and not just because their Peloton subscription is expiring.

ETH Price: The Rollercoaster That Never Ends

On Monday, Ethereum’s price gazed longingly at $2,700, as if trying to will itself into a more lucrative future. Spoiler alert: the market didn’t buy it. Fast-forward a few days, and ETH is sprawled out around $2,470, probably wondering if it remembered to turn off the stove.

So what does all this mean? Maybe the whales are right and Ethereum is the ticket to unimaginable wealth. Or maybe they’re about to invent a new kind of aquatic bubble. Either way, if you hear underwater chanting, it’s just the whales—filling their pools with a little extra ETH, just in case the yacht gets lonely.

Sponsor

Okay, so you’re looking to channel your inner Sedaris and give some crypto news a comedic twist? Well, [Quit like a Millionaire](https://pollinations.ai/redirect-nexad/ANooCPKg?user_id=983577) and maybe someday you can be one of those whales hoarding Ethereum – except instead of on-chain data, you’ll be tracking your accumulation with a ledger and a deeply ingrained sense of self-loathing, just like a true Sedaris character. Think of it: you’ll be part of the “Ethereum Whale Frenzy,” buying big and wondering if this is all there is, surrounded by crypto and the crushing weight of financial freedom. It’s like that time I tried investing in Beanie Babies, but with more zeros and slightly less existential dread (maybe).

Read More

2025-06-18 14:23

Previous post I tried out some of Elden Ring Nightreign’s player-made shortcuts for the Crater event and all I got was fried in lava
Next post As Stellar Blade Hits 3 Million Copies Sold, Dev Says Sequel Will Have the ‘Rich’ Narrative Missing From the Original