Ethereum Updates: Large Holders Acquire $1.37B in Ethereum While Short Sellers Face Major Losses Amid Market Division

Ethereum (ETH) has attracted significant buying interest from major investors after its price fell by nearly 12% in November 2025, dropping to a four-month low of $3,000 before experiencing a slight recovery, according to a report from

. Blockchain analytics provider Lookonchain revealed that eight major players together acquired 394,682 , with a total value of about $1.37 billion, over a three-day period, as detailed in the same report. The average purchase price stood at $3,462, with the so-called "Aave whale" leading the pack by buying 257,543 ETH worth $896 million, as highlighted by BeInCrypto. Technologies, the largest corporate holder of Ethereum, increased its holdings by 40,719 ETH (valued at $139.6 million), continuing its approach of accumulating during price drops, according to the same article.

This wave of buying coincided with

exchange balances falling to their lowest point since 2016, based on CryptoQuant data referenced by BeInCrypto. This pattern indicates that investors are moving assets away from exchanges into long-term storage, reflecting growing optimism about Ethereum’s prospects. Additional on-chain indicators, such as negative MVRV values, also point to a historically favorable entry point, as the report notes.

At the same time, market volatility exposed differing investor responses. A well-known trader dubbed the "Former 100% Win Rate Whale" closed a $25 million ETH short position with 25x leverage, resulting in a $1.44 million loss, according to a CoinEx report,

. This was the trader’s fifth straight loss, leaving the account with just $570,000 after losing $31.47 million over the past month, as detailed by CoinEx. The same trader had previously exited another ETH short, also leaving $570,000 in the account, according to a Bitget report, . These events highlight the dangers of leveraged trading during Ethereum’s recent price swings.

The contrasting approaches—large-scale accumulation by whales versus aggressive leveraged shorting—illustrate the broader uncertainty in the cryptocurrency market. While institutional and high-net-worth investors appear to view Ethereum’s current valuation as attractive, retail traders and those using leverage are more vulnerable to sharp price movements. Market analysts suggest that Ethereum’s ability to maintain levels above $3,400 will be key in determining if the recent buying activity leads to a sustained upward trend, as BeInCrypto reports.