Arkham reveals {that a} mysterious whale has made a big Ethereum wager by buying a staggering quantity of $ETH on Kraken. By its dimension, the acquisition is similar to the latest acquisition of Ethereum made by Tom Lee’s treasury firm, Bitmine.
In the meantime, Ethereum has considerably moved down, nonetheless struggling to carry above the psychologically essential $2,000 line. The excellent news is that Ethereum has hit a peak of on-chain exercise, reaching new all-time highs and surpassing even these seen in 2021. Nonetheless, it doesn’t assist to raise the worth.
Ethereum whale scoops up $100 million $ETH
In accordance with Arkham, an nameless investor has withdrawn $92.97 million in Ethereum from Kraken. The whale then instantly break up the acquisition between two new wallets.
Some commentators imagine that this whale is constructing a long-term place in the marketplace. One X consumer urged it could possibly be Tom Lee shopping for extra Ethereum from a brand new pockets.
SOMEONE JUST BOUGHT ALMOST $100M OF $ETH
A mysterious whale simply withdrew $92.97M of $ETH from Kraken and distributed it to 2 recent wallets.
Who do you suppose is shopping for $ETH? pic.twitter.com/2EijYa1ugX
— Arkham (@arkham) March 11, 2026
As reported by U.At this time earlier this week, widespread analyst and monetary skilled Tom Lee, who’s now on the head of the crypto treasury firm Bitmine, has amassed a good greater quantity of Ethereum, value $120 million. This buy is said to not Lee himself however to Bitmine.
Final week, this firm acquired 60,976 $ETH value roughly $131 million. Bitmine now holds greater than 4,534,563 Ethereum. That’s near $10 billion in fiat equal.
Ethereum exercise spikes; Tom Lee and Saylor
Information aggregator CryptoQuant has reported that, at present, Ethereum has reached new highs in on-chain exercise, surpassing these witnessed by the market in 2021. Right here, Ethereum has left Bitcoin behind as using sensible contracts, in addition to the variety of lively wallets, has reached a brand new peak, together with the quantity and frequency of transfers.
Ethereum exercise is at all-time highs.
Lively addresses, transfers, and sensible contract calls maintain rising, even above 2021 ranges, whereas $ETH value is down over 50%.
The rationale: capital outflows. Community progress ≠ value if liquidity is leaving. pic.twitter.com/qwxHyCY1KZ
— CryptoQuant.com (@cryptoquant_com) March 10, 2026
Nonetheless, the Ethereum value is 50% down from its all-time excessive of $4,953 in August final yr. The rationale for this, named by CryptoQuant, is capital outflows, and the community enlargement is just not serving to drive the worth up on this case. Nonetheless, Tom Lee believes within the bullish way forward for Ethereum.
He and Michael Saylor characterize two totally different views of the way forward for the monetary system: whereas Lee believes it’ll run absolutely on Ethereum, Saylor bets that every one international funds might be based mostly on Bitcoin.
