Ethereum News Update: Major Ethereum Holders Invest $1.37B During Market Dip, Indicating Potential Rise to $10K

The largest Ethereum holders have begun a significant accumulation phase, acquiring more than $1.37 billion worth of

during a 12% price drop in November 2025, reflecting growing optimism among investors even as the broader market remains volatile. Blockchain data shows that eight prominent wallets collectively purchased 394,682 ETH, with the biggest buyer—a whale identified by Lookonchain as an participant—acquiring 257,543 ETH valued at $896 million through borrowed stablecoins, according to . This leveraged purchase, which involved $270 million in Aave loans backed by $584 million in wrapped ETH (WETH), demonstrates the bold risk-taking of institutional players, as noted.

This Aave whale implemented a high-leverage strategy involving repeated cycles of borrowing, swapping, and redepositing.

Within just one hour, the whale borrowed $30 million in , exchanged it for 12,687 ETH, and cycled the assets back into DeFi platforms to sustain liquidity and secure more loans, as reported by . This process was repeated several times each day, intensifying ETH price swings and highlighting the whale’s strong belief in Ethereum’s future. The position’s health ratio stands at 2.1, which is considered safe, but such leveraged positions remain vulnerable to liquidation if ETH falls below $2,700, as pointed out.

Other significant investors also joined the buying spree. Bitmine Immersion Technologies, the largest corporate holder of Ethereum, increased its holdings by 40,719 ETH ($139.6 million), continuing its aggressive dip-buying approach after making $250 million and $113 million purchases in October, according to

. In addition, another whale—address 0x9992—took out a $10 million USDC loan to buy 2,909 ETH, boosting its total to 83,816 ETH ($288.6 million) while maintaining $122.89 million in stablecoin liabilities, as reported. These synchronized actions suggest a collective move to take advantage of Ethereum’s perceived undervaluation, with experts observing that such whale activity often comes before major market movements, as highlighted.

Market indicators support this growing bullish trend.

reserves on exchanges have dropped to their lowest point since 2016, signaling a transition from short-term trading to long-term holding, as observed. On-chain signals such as negative MVRV values further indicate a historically favorable buying environment, as reported. Technical analysis also shows ETH stabilizing near $3,400 after hitting a four-month low of $3,000, with analysts from CoinDCX and Bitget Wallet forecasting a possible rally to $4,800–$10,000 by the end of 2025, according to .

The surge in leveraged whale activity comes as the market anticipates Ethereum’s Fusaka upgrade in December, which is expected to improve scalability and lower transaction fees. The combination of growing institutional interest and enhanced network infrastructure has attracted renewed attention from major investors, despite the ongoing risks of liquidation, as

reported.