A rich Ethereum investor is not put off by the hard price falls as a result of the American attack on Iran, which was answered with the closing of the street of Hormuz. De Whale in question bought tens of millions of dollars Ethereum, indicating that De Rijkaard sees these price falls as an opportunity.
Whales not impressed by price falls
It concerns Wallet address 0x7355 … 213 that bought $ 9,400 for 39 million dollars. This happened in two large tranches on 22 June, which brings the total stock of this Whale to 330 million dollars.
A lot of conviction is needed for that, because Ethereum does not yet perform as hoped during this market cycle. The returns are heavily lagging behind Bitcoin, and the all-time high of November 2021 has not yet been broken.
That has everything to do with the absence of valuable applications on the Blockchain of Ethereum. During this market cycle it was mainly about memecoins, and not about potential promising applications.
After more than 10 years at Ethereum, investors are gradually starting to worry about the future of the project. This Whale clearly doesn’t care much after his purchase of nearly 40 million dollars.
Whales buy the dip
This Whale therefore saw the price falls of Ethereum around the Iran conflict as a chance of buying. However, he was not the only one. Data from Glassnode shows that a similar sentiment prevailed among all whales with at least 10,000 Ethereum.
Now Ethereum would stand up above a rising trend line, which can facilitate a strong revival in the coming days, so claim Marketanist Sensei.
A revival from the same support line yielded an increase of 55% in the period from April to May 2025. If this pattern takes place, Ethereum could rise to the resistance at $ 2,735, which results in an increase of approximately 25% from the current levels.
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