Ethereum whales buy millions in ETH as price falls below $2,200

Large Ethereum whales have purchased millions of dollars worth of ETH over the past several days, with several wallets continuing to accumulate the cryptocurrency despite its recent price decline and heavy selling across the market. Ethereum whales purchased millions of dollars worth of ETH since Friday, including a $21.55 million acquisition financed through a $22 million USDT loan from Aave. Lookonchain identified several large transactions, including a $19.7 million ETH purchase and two wallets that spent $9.08 million acquiring 4,312 ETH. Another wallet withdrew 34,601 ETH worth approximately $73.75 million from Binance on November 9 after remaining inactive for more than two years. The accumulation came as Ethereum struggled below $2,200, while US spot Ethereum ETFs recorded $365.2 million in weekly net outflows.

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