The newest on-chain knowledge reveals {that a} outstanding Ethereum whale has returned to the crypto market over the previous week, because the ETH worth persists above the $2,000 stage.
ETH Whale Held $538M In Crypto In 2022
Based on knowledge from Arkham Intelligence, an Ethereum OG whale often known as thomasg.eth has been on an Ether shopping for spree (valued at roughly $19.5 million) over the previous week. The entity acquired spot Ether, wrapped ETH (WETH), and Aave-deposited ETH throughout Arkham-tracked pockets addresses, with the newest buy price $3 million on Friday, March 20.
Arkham revealed in its publish in X that the whale as soon as held round $538 million in cryptocurrency property, together with Ethereum, Wrapped Bitcoin (WBTC), and DAI on the peak of the market in 2021. Nonetheless, the large-scale Ethereum investor had diminished their publicity to cryptocurrencies and downsized their portfolio to just about zero by the center of 2022.
HE ONCE HELD $500M IN CRYPTO – NOW HE’S BUYING BACK
Ethereum OG @thomasg_eth held $538M in ETH, WBTC and DAI on the high of the market in 2021. Now, he’s shopping for again. He simply purchased $3M of ETH, and he’s purchased a complete of $19.5M this week.
Ethereum OGs are stacking $ETH. pic.twitter.com/ttWQGweY7m
— Arkham (@arkham) March 21, 2026
Usually, strategic strikes like thomasg.eth’s typically ship shockwaves via the crypto group, contemplating the holder’s whale standing. However, this acquisition looks as if a sheet out of the “purchase the dip” playbook, with the Ethereum worth at present greater than 56% down from its all-time excessive of $4,964.
As of this writing, the value of ETH stands at round $2,153, reflecting no important motion prior to now day. The worth motion of the second-largest cryptocurrency appears to have improved prior to now month, after a dreadful February efficiency, which noticed a fall to round $1,800.
Ethereum Enters Historic Purchase Zone — What Subsequent?
Apparently, widespread crypto analyst Ali Martinez has put ahead a bullish prognosis for the ETH worth over the approaching weeks. This optimistic outlook is predicated on the MVRV Ratio, which compares the coin’s market worth to its realized worth.
As highlighted by Martinez, the Ethereum worth has witnessed historic rallies after the MVRV Ratio dropped to or under the 0.8 mark. Most lately, the value of ETH surged by 250% after the metric fell to this threshold in April 2025.
The development is predicated on the truth that a low MVRV worth signifies that almost all of the market is in a loss, measuring how deeply undervalued the asset at present.
Based on the crypto analyst, the ETH MVRV dropped towards this threshold earlier this month, implying {that a} purchase window has opened for the altcoin. This means that the value of Ethereum could possibly be on the best way again to its former excessive.
The worth of ETH on the day by day timeframe | Supply: ETHUSDT chart on TradingView
Featured picture by DALL-E, chart from TradingView
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