Trending Now - Ethereum Whale Makes $19.5M Purchase Amid Staking Surge
WHO:
Ethereum whale known as thomasg.eth
CryptoQuant, Arkham Intelligence
WHAT:
Bitmine staked an additional 94,670 ETH, worth approximately $204 million.
Bitmine's total staked holdings now exceed 3 million ETH, specifically 3,135,185 ETH, representing around $6.75 billion.
68.22% of Bitmine's total holdings are locked in staking contracts.
thomasg.eth made a significant purchase of Ethereum worth $19.5 million.
Whales holding over 100,000 ETH have returned to a profitable state.
Ethereum is currently trading near the $2,000–$2,050 range.
Ethereum price briefly dropped below $1,900 before a modest recovery attempt.
Historical data indicates that the transition of major whale cohorts from loss to profit often coincides with the early stages of new market cycles.
WHERE:
Ethereum market
WHEN:
The purchase occurred over the past week from March 16th to March 23rd, 2026.
The price decline began in early February 2026.
WHY:
The shift to profitability among large holders typically reflects periods of capitulation, where price compresses below the aggregate cost basis of major holders.
HOW:
By locking a significant portion of its holdings, Bitmine is effectively removing supply from the liquid market, contributing to tighter circulating availability.
The market is influenced by the positioning of large holders, which can lead to reduced selling pressure and increased confidence among long-term participants.
(UPDATED March 23, 2026 15:38 UTC)
In a significant move today, Bitmine staked an additional 94,670 ETH, valued at about $204 million, bringing its total staked holdings to over 3 million ETH, specifically 3,135,185 ETH, which is around $6.75 billion. Currently, 68.22% of Bitmine's total holdings are locked in staking contracts, effectively reducing the supply available in the liquid market. This strategy is contributing to tighter circulating availability of Ethereum.
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(UPDATED March 23, 2026 13:36 UTC)
In a notable development in the Ethereum market, a whale known as thomasg.eth made a significant purchase of Ethereum worth $19.5 million over the past week, as whales holding over 100,000 ETH have returned to a profitable state. Currently, Ethereum is trading in the $2,000 to $2,050 range, having briefly dipped below $1,900 before attempting a modest recovery. Historical data suggests that the transition of major whale cohorts from loss to profit often marks the early stages of new market cycles, indicating a potential shift in investor sentiment.