Ethereum (ETH) Whales Buying Again?

News By Dan Burgin 11/07/2026 - 13:56 Ethereum whales have accumulated more than $42 million worth of ETH, even as U.S. spot Ethereum ETFs report $365 million in weekly outflows.Advertisement Ethereum (ETH) Whales Buying Again?

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According to the Arkham data spotted by Whale Alert, a wallet has bought $19.7 million worth of Ethereum.

The data shows that the wallet has bought 8,773.5 $ETH at $2,245. This whale previously bought 10,376 ETH at an average price of $1,626 in June, according to data from Yujin Monitor.

The whale's total Ethereum holdings currently sit at 23,095 ETH worth $51.69 million.

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Arkham also spotted another fresh wallet 0x4AB7, that withdrew 9,777 $ETH worth about $22.5 million from Binance over the course of the past week.

The statistics on exchange net flow paint a somewhat different picture. On Saturday, ETH saw $18.32 million in net flow on all major exchanges.

If whales move their funds to exchanges en masse, this usually means short-term selling pressure.

Institutional investors are selling ETH

Over the past week, US spot Ethereum ETFs have seen $365 million in outflows. In particular, the last two days marked a total of $193.2 million in outflows.

The main reason is the rapid decline on November 5, when Ethereum fell almost 10% after a short-lived rally.

Analyst Ali Martinez noted that ETH price has recently lost an important support level at $2,385. More selling pressure could mean a further decline toward $1,963.