Ethereum Accumulation Hits New Highs with Whales and Corporates Leading the Charge
Ethereum is seeing a surge in accumulation as whales and corporate entities increasingly invest in ETH to establish it as a primary treasury reserve asset. Companies including Sharplink Gaming, Bitmine Immersion, GameSquare Holdings, The Ether Machine, and BitDigital have been actively acquiring ETH to solidify their positions in the Web3 ecosystem.
According to Coingecko, 11 Ethereum Treasury Companies collectively hold 3,233,793 ETH, valued at roughly $13.94 billion, reflecting an 8.1% increase in the past 24 hours. Notably, Yunfeng Financial, linked to Jack Ma, recently purchased 10,000 ETH, marking Hong Kong as a key hub for progressive crypto investments.
Market Liquidations and Whale Activity
Despite bullish accumulation, Ethereum has also experienced significant liquidations. Coinglass reports $69.51 million in ETH liquidated over the last 24 hours, with $41.93 million in long positions and $27.58 million in shorts. The largest single liquidation occurred on HTX ETH/USDT, valued at $1.71 million, while a total of 109,306 traders were liquidated, amounting to $246.89 million in the wider market.
Meanwhile, blockchain analytics show that whales are flipping toward Ethereum. Wallet 0x3e38 deposited 7,500 ETH to Binance and has a current balance of 12,402 ETH (~$53.65 million), yielding profits of $6.8 million. Whale 0xF4Bd added 2,585 ETH to Binance on September 2, generating $5.33 million in profit. SharpLink Gaming reportedly bought $176.4 million in ETH on the same day, now holding $3.6 billion worth of Ethereum.
Ethereum’s Growing Treasury Dominance
The trend highlights how both institutional and individual whales are diversifying into Ethereum from Bitcoin. Notably, a Bitcoin OG sold 35,991 BTC to acquire 886,371 ETH at 0.0406 BTC per ETH on Hyperliquid, maintaining 49,634 BTC (~$5.43 billion) in four wallets. This shift underscores ETH’s growing role as a treasury and store of value within the crypto market.
