The newest on-chain information exhibits {that a} outstanding Ethereum whale has returned to the crypto market over the previous week, because the ETH value persists above the $2,000 stage.
ETH Whale Held $538M In Crypto In 2022
Based on information from Arkham Intelligence, an Ethereum OG whale referred to 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 value $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 belongings, together with Ethereum, Wrapped Bitcoin (WBTC), and DAI on the peak of the market in 2021. Nonetheless, the large-scale Ethereum investor had decreased 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
Sometimes, strategic strikes like thomasg.eth’s typically ship shockwaves by means of the crypto neighborhood, contemplating the holder’s whale standing. However, this acquisition looks like a sheet out of the “purchase the dip” playbook, with the Ethereum value presently 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 value 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?
Curiously, common crypto analyst Ali Martinez has put ahead a bullish prognosis for the ETH value 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 value 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 presently.
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 implies that the value of Ethereum might be on the way in which again to its former excessive.
The value 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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