Ethereum Whales Counter Binance Inflows with $100M Accumulation

Ethereum's price recovery has been bolstered by large-holder demand as whales and institutions have been accumulating millions of dollars' worth of ETH.

According to a recent report from Lookonchain, one whale rotated significant Bitcoin exposure into Ethereum during the accumulation wave, swapping 512 WBTC (valued at roughly $38.64 million) alongside 354 cbBTC ($26.73 million), securing around 26,924 ETH worth nearly $64.57 million.

Institutional activity also strengthened the accumulation outlook after Abraxas Capital purchased another 13,700 ETH for $34.24 million, representing roughly $100 million in fresh Ethereum purchases.

However, this large-holder demand is being tested by rising Binance inflows, which hit approximately 709,400 ETH, reflecting the highest daily inflow level since June.