Whale Adds $12 Mln Of Wrapped Ethereum (WETH) Amid Price Crash
The world’s second largest cryptocurrency Ethereum (ETH) has emerged to be one of the biggest losers out of the top tokens. ETH prices have plunged by more than 15% over the past week. However, this market dump has seen the Crypto whales accumulating DeFi tokens.
ETH whales add over 6K of wETH
According to Whalestats, an ETH whale named “Saruman” is accumulating wrapped Ethereum (wETH). The wallet has single handedly added more than $11.8 million worth of wETH in the last 24 hours. Saruman bought wETH in 6,726 wETH tokens in just 8 transactions. However, the biggest transaction recorded by the whale is of adding $2.43 million worth of wrapped ETH.
As we dig in, data shows that the “Saruman” wallet is now holding over $49.1 million worth of wETH. Another big transaction shows that the same whale also bought 1,100 Wrapped Bitcoin (WBTC). Saruman added around $32.5 million worth of WBTC. Meanwhile, the biggest 100 ETH whales are now holding almost $40 million worth of WBTC. It represents just 0.9% of their total holding.
Whales bought the dip
The Ethereum is trading at an average price of $1,780, at the press time. ETH price has dropped below the crucial $1,800 price level in a very long period of time. However, ETH’s total value locked (TVL) has also dropped by 40% over the past month. Meanwhile, still holds the largest TVL of $67.44 billion. ETH’s total market capitalization has also shrunk to $215.04 billion.
wETH 24 hour trading volume has surged by over 30% to stand at $2.2 billion. These moves suggest that whales are turning towards DeFi trading to maintain their returns amid the price dip. It also implies that the biggest whales have successfully utilised the bought the bid opportunity, Meanwhile, most of the cryptocurrency has registered a major drop this week. The global crypto market has shrunk to stand at $1.2 trillion. It has dropped by more than 50% from its ATH recorded in November.
- Fed’s Anna Paulson Backs Rate Cuts, Downplays Trump Tariff Impact
- Is Another BTC Price Crash Ahead As ‘Trump Insider Whale’ Increases Bitcoin Short to $340M
- Bitget Reveals Rising Crypto Adoption as Nigeria, China, and India Lead Growth
- Breaking: Michael Saylor’s Strategy Adds 220 Bitcoin Amid Crypto Market Dip
- Breaking: China Renaissance Bank Eyes $600M Raise for BNB-Focused Fund with YZI Labs
- Trader Sees a Dogecoin Price Surge as House of Doge Sets for a NASDAQ Listing
- Will Shiba Inu Price Recover After the Crypto Crash As Burn Rate Soars 8,194%?
- Bitcoin Price Mirrors March 2020 Crash as US–China Trade Easing Fuels Recovery
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
