A major wallet is once again making silent moves across the market. The whale holding address 0x2684 has been steadily accumulating ETH and WBTC since late last month, starting June 30. On-chain tracking data reveals that the address’s total ETH holdings have now reached 54,449 coins. This $94 million stash was built at an average purchase price of $1,726 per ETH.
The same whale has also been actively stacking Wrapped Bitcoin on Ethereum, acquiring 600 WBTC valued at $38.37 million at an average price of $63,950 per coin. The combined value of these holdings has now crossed the $132 million threshold.
This aggressive accumulation is already delivering tangible returns to the portfolio. Whale 0x2684 currently sits on over $12.5 million in unrealized profit. These paper gains coincide with broader market momentum as ETH climbs to test the $2,000 level, while BTC holds steady near $65,840 around Tesla’s public earnings release.
Two Market Layers Moving in Sync
The whale’s accumulation strategy aligns closely with broader trends across traditional exchanges, where financial institutions continue to display significant buying appetite. Bitcoin ETF products recorded daily net inflows of 3,078 BTC, or roughly $202.63 million. Over a one-week span, net institutional inflows surpassed 11,460 BTC, valued at $754.46 million.
Substantial capital has also flooded the Ethereum market. Ethereum ETF products registered daily inflows of 19,682 ETH, equivalent to $38.12 million. Over the past seven days, these institutional investment vehicles attracted an additional 70,177 ETH worth $135.93 million in total. ETH’s price push toward the $2,000 mark is currently being fueled directly by these sustained ETF inflows.
This synchronized accumulation between on-chain whales and institutional ETF inflows signals a clear market stance. It indicates that bullish momentum is gaining strength across two distinct market tiers simultaneously - from major on-chain holders to traditional exchange capital allocators.
Not a Tech Stock Whale
The entity behind address 0x2684 is exclusively dedicated to cryptocurrency market moves. This player is confirmed to be separate from the whale that recently opened a $10.65 million long position on GOOGL stock ahead of Google’s earnings report. They represent two independent entities with separate portfolios and distinct market strategies.
A Strengthening Price Foundation
The simultaneous buying activity from major on-chain entities and traditional investment managers provides additional confirmation for the prevailing trend. When private nine-figure wallets move in lockstep with institutional ETF maneuvers, overall market sentiment secures a significantly firmer foundation.
Reported via @lookonchain on X.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
