Three Major Wallets Accumulate ETH as Market Rebounds
On March 3, new data from blockchain tracking platform Lookonchain revealed that three significant Ethereum addresses collectively added 11,464 ETH to their holdings. This surge in accumulation comes amid a broader market rebound, signaling renewed confidence among large holders.
Single Largest Deposit Goes to Aave
Just three hours prior, the wallet identified as 0xE1Ad withdrew 6,114 ETH (worth approximately $12.52 million) from OKX and deposited the entire amount into the decentralized lending protocol Aave. This move has been interpreted by analysts as a bullish sign, suggesting long-term holding intentions and potentially stabilizing ETH's market price.
Two Dormant Wallets Resume Buying After Months of Inactivity
In addition to the Aave deposit, two other addresses — 0x7673 and 0xBA9A — which had remained inactive for over three months, reactivated and started accumulating ETH again. Together, they spent around $10.93 million to purchase 5,350 ETH at an average price of $2,043 per ETH, indicating growing optimism about Ethereum’s price outlook.
Accumulation Trend Reflects Market Sentiment Shift
The recent buying spree aligns with improving market conditions and suggests that whales and institutional investors may be positioning themselves for the next potential price rally. Analysts note that such large-scale accumulation often precedes significant market movements, making it a key indicator to watch for short-term traders and long-term holders alike.