ETH: Some Take Profits, Others Go All-In
Ethereum (ETH) remained in the spotlight. Whale wallet 0x3c9E sold a total of 33,682 ETH worth around $119 million since early August. Meanwhile, Arthur Hayes, CIO of Maelstrom Fund, offloaded 2,373 ETH ($8.32 million), along with 7.76 million ENA and 38.86 billion PEPE tokens. These moves suggest a profit-taking strategy amid market uncertainty.
On the flip side, another whale bought $300 million worth of ETH. SharpLink Gaming also acquired 30,755 ETH using 108.57 million USDC, bringing their total holdings to over 480,000 ETH—currently valued at around $1.65 billion. Another wallet received 25,540 ETH from FalconX, even after previously staking 35,615 ETH and now sitting on an unrealized $10 million loss.
These large-scale acquisitions indicate long-term confidence in ETH despite short-term market swings.
Bitcoin: Metaplanet and El Salvador Keep Buying
Bitcoin also attracted significant whale interest. Japanese investment firm Metaplanet announced it had acquired 463 BTC at an average price of roughly $115,895 per coin. As of August 4, the company holds 17,595 BTC valued at about $1.78 billion.
At the same time, El Salvador increased its national Bitcoin reserves to 6,258 BTC, now worth approximately $718 million. Additionally, a long-dormant Bitcoin wallet holding 306 BTC suddenly became active after 12.4 years, sparking speculation that veteran investors may be returning to the scene.
Beyond the major coins, a whale deposited 4.07 million USDC into Hyperliquid and purchased a significant amount of HYPE tokens. This move raised their wallet ranking among top holders, with the whale now holding nearly 487,210 HYPE (worth about $18.65 million) and sitting on an unrealized profit of $1.535 million.
Meanwhile, blockchain analytics firm Nansen reported that MAGICIAN, AIPEPE, and CHILLHOUSE had the highest net inflows of “smart money” over the weekend.
On-chain data shows a market divided: some whales are locking in profits while others are accumulating. However, the rebound on Sunday and the continued strength into Monday suggest that buying pressure may be outweighing sell-offs—for now.
