Ethereum Whales Accumulate Heavily Following November 2025 Market Correction

The Ethereum (ETH) market experienced a sharp downturn at the start of November 2025, characterized by substantial volatility that saw the asset plunge by more than 12%, hitting its lowest level in nearly four months. Yet, this aggressive price correction served as a catalyst for massive buying activity among the network’s largest investors, commonly dubbed “whales.” Over a mere three-day period, a cohort of eight major wallets strategically deployed approximately $1.37 billion, successfully accumulating 394,682 ETH. This concerted effort, executed at an average price of $3,462 per ETH, underscores a deliberate strategy of accumulation during market weakness.

Leading the charge in this buying spree was the entity known as the “Aave whale,” which single-handedly amassed 257,543 ETH, translating to an investment of roughly $896 million. Following closely in terms of sheer volume was Bitmine Immersion Technologies. This firm bolstered its holdings by acquiring 40,719 ETH, representing an outlay of around $139.6 million. It is particularly noteworthy that Bitmine Immersion Technologies holds the distinction of being the largest corporate holder of Ethereum globally at this time.

By November 7, 2025, the price of ETH had already staged a partial rebound, registering a gain of 4.125% against its prior closing price. Trading activity that day saw the asset oscillate between a low of $3,196.73 and a high of $3,467.36, ultimately settling at $3,464.79 at the close. This rapid influx of capital coincided with a significant preceding macroeconomic development: the Federal Reserve had implemented an interest rate cut on October 29, 2025, aiming to stimulate economic growth. While such monetary easing typically provides a tailwind for risk assets, the market remained tempered by the cautious commentary delivered by Fed Chairman Jerome Powell.

Looking ahead, market analysts remain decidedly bullish on Ethereum’s trajectory for the remainder of 2025. Consensus forecasts project the price could settle within the $3,500 to $5,200 bracket. However, increasingly strong institutional engagement has fueled more aggressive predictions, with some experts calling for targets as high as $5,800 or even $7,200. This confidence is fundamentally rooted in ongoing structural enhancements to the network, most notably the maturation of Layer-2 (L2) scaling solutions like Optimism and Arbitrum. These technological advancements are dramatically improving the network’s throughput, achieving scalability levels that surpass the processing capacity of the Nasdaq exchange itself.

The sustained institutional faith in Ethereum is further corroborated by robust data concerning futures contracts. In October 2025, the Open Interest (OI) for ETH futures traded on the CME hit an unprecedented peak of 46,851 contracts, representing a staggering $11.2 billion in nominal value. The aggressive accumulation witnessed from whales in November serves to validate this overarching trend: regardless of transient market pullbacks, Ethereum’s inherent fundamental value and continuous technological evolution ensure it remains a magnet for substantial investment capital.