Ethereum whales accumulate millions as ETH trades below $2,200

Crypto.news reports that large Ethereum whales purchased millions of dollars worth of ETH over the past several days. Several wallets continued accumulating during the recent decline and amid heavy selling across the broader crypto market, according to the outlet’s summary of on-chain analytics findings. The purchases were attributed to on-chain analytics, which identified large wallets as buyers during a period of market weakness. The supplied report does not provide the wallets’ identities, the exact amount spent, or the specific transactions involved, so the available description is limited to purchases worth several million dollars. The live market snapshot shows ETH at $2,119.10, below the $2,200 level referenced in the coverage. Ethereum is down 5.11% over 24 hours and 6.94% over seven days, with a market capitalization of $259.03 billion. That performance comes as the overall crypto market is broadly lower, with Bitcoin also down 1.70% over 24 hours.

The total crypto market capitalization stands at $2.56 trillion, while the Fear & Greed index reads 29, placing sentiment in the Fear category. Against that backdrop, the reported whale accumulation is notable because the purchases continued while prices weakened and selling pressure was visible across the market. The next points to monitor are whether additional wallets continue buying and whether ETH holds above or moves further below the $2,200 level.