Ethereum Whales Add $227M as Price Tries to Hold Near Support

Ethereum has seen significant whale accumulation over the past month, with one address withdrawing 9,000 ETH worth around $16.87 million from Gemini and then adding roughly 121,000 ETH worth about $227 million to its holdings.

This recent withdrawal is part of a larger trend of accumulation that began last month, according to on-chain data provided by the source. The address in question already has most of its holdings staked.

As Ethereum trades near support levels, continued whale accumulation could potentially offset weak short-term momentum. Technical indicators such as the MACD and RSI suggest bearish trends, but this may be countered by strong buying pressure from whales.