Whale accumulates 51,374 ETH in a month, market signals behind billion-level additional positions

A certain whale address has been continuously accumulating ETH over the past month, most recently purchasing 5,104 tokens in the early hours of January 3rd, bringing the total accumulated to 51,374 ETH, with a total value of approximately $160 million. This sustained large-scale accumulation behavior stands in stark contrast to Baidu’s sell-off during the same period, reflecting the divergent outlooks of different market participants on ETH’s prospects.

Whale’s Continuous Accumulation Pace

According to on-chain data monitoring, the accumulation behavior of whale address 0x46DB shows clear regularity. From December 3rd to January 3rd, this whale bought a total of 51,374 ETH at an average price of $3,110, with a total investment of about $160 million. The latest accumulation occurred in the early hours of January 3rd, with a single purchase of 5,104 ETH valued at $16.09 million.

This purchase price is nearly the same as the current ETH price of $3,099, indicating that the whale has essentially accumulated near the cost basis recently. This precise price control ability usually reflects large investors’ accurate judgment of market support levels.

Whale accumulation scale comparison

Clear Market Divergence

Contrasting with the whale’s continuous accumulation, Baidu has engaged in large-scale selling during the same period. According to the latest data, Baidu deposited 1,134 BTC and 7,255 ETH into Binance on January 2nd, continuing a series of asset transfers since November.

Such phenomena are not uncommon in the crypto market, reflecting differing judgments among participants regarding asset prospects:

• Whale side: Continues large buy-ins, optimistic about medium-term prospects, chooses to add positions near the cost basis
• Baidu side: Continues selling, possibly for risk management or portfolio adjustment reasons
• Market reaction: Despite selling pressure, ETH remains resilient, up 4.02% in 24 hours

Diverse Voices in the Market

Related information shows that market participants’ operational directions indeed vary. Besides whale accumulation and Baidu’s sell-off, other institutions are reallocating assets, such as Arthur Hayes selling 1,871 ETH in the past two weeks to shift into DeFi tokens. This indicates that the market is not purely bullish or bearish but is in a phase of multi-party power struggles.

Market Signals Behind Accumulation

The recent continuous accumulation by whales at least conveys the following signals:

• Support level confirmation: The average purchase price of $3,110 is close to the current price, suggesting whales see this as an important support
• Long-term optimism: The scale of a single purchase of over 5,100 ETH indicates sustained buying power rather than short-term speculation
• Risk tolerance: An investment of $160 million shows strong confidence in this price range
• Market bottom characteristics: In a market with mixed opinions, large investors tend to add positions when market consensus is most divided

Future Focus Areas

Based on the current market landscape, several aspects to watch are:

• Whether ETH can hold above $3,100, which will directly impact whales’ cost basis
• Whether whales will continue to add positions; ongoing buying could further strengthen support
• The scale and speed of Baidu’s sell-off; large institutional exits may create short-term pressure
• When market participants’ attitudes might shift towards consensus

Summary

Over the past month, whales have accumulated a total of 51,374 ETH, investing around $160 million. This is not a one-time large purchase but a sustained, rhythmic accumulation behavior. Such actions typically reflect thoughtful market judgment rather than impulsive decisions. Despite institutions like Baidu selling, the whales’ continued accumulation indicates that strong bullish voices still exist in the market. The current price zone around $3,100 has become a focal point for bulls, and subsequent price movements will further verify whether these large investors’ judgments are accurate.