Ethereum Sharks’ Accumulation as Whales Move to Futures May Signal Price Recovery Toward $4,390




  • Sharks (10k–100k ETH) are buying aggressively, increasing on-chain concentration.

  • Whales are shifting capital into futures, raising average order size and perpetuals volume.

  • Negative exchange netflow (-49k ETH at press) and large one-day buys (21.59k ETH) highlight active accumulation.

Ethereum shark accumulation: mid-size 10k–100k ETH addresses buy aggressively while whales move to futures — read key levels and implications.

What is Ethereum shark accumulation?

Ethereum shark accumulation describes increased buying by mid-sized on-chain addresses holding 10k–100k ETH, which has concentrated supply among fewer holders. This trend shows up as sustained negative exchange netflow and large single-wallet purchases, while whales pivot to derivative markets.

How are sharks displacing whales on Ethereum?

On-chain data and market analysis indicate a shift: the count and relative activity of classic whale cohorts have decreased, while shark wallets have executed sizeable buys. Joao Wedson, founder of Alphractal, reported a notable fall in whale numbers as sharks stepped in. Plain-text source mentions: Alphractal, Nansen, CryptoQuant, Defillama.

Addresses holding 10k–100k ETH have accumulated aggressively, increasing the Gini Coefficient for ETH — a sign of rising wealth concentration on the network. Nansen-tracked activity shows examples such as a shark wallet labeled ‘medium uniswap’ buying 21.59k ETH (~$87.43M) on September 25.

Ethereum addresses with 10-100k ETH

Source: Alphractal

Why is exchange flow and futures activity important?

Short-term price direction hinges on supply moving on or off exchanges and what large players do with derivatives. CryptoQuant shows Ethereum recorded negative exchange netflow for two straight days — at press time netflow was -49k ETH, down from -118k the day prior. Negative netflow typically indicates accumulation off-exchange, removing sell-side pressure.

Ethereum Gini Coefficient

Source: Alphractal

Concurrently, CryptoQuant reports a rebound in futures average order size, indicating renewed whale activity in derivatives. Perpetuals volume, per Defillama metrics, surged to roughly $584 million — a monthly high — suggesting whales may be expressing directional conviction via futures rather than spot.

Ethereum sharks buys

Source: Nansen

Ethereum exchange netflow

Source: CryptoQuant

Any impact on ETH price?

Despite heavy shark accumulation, ETH has traded lower over the last seven days, breaching $4,000 and briefly testing $3,900 before a modest rebound. At press time ETH was ~ $4,005, down roughly 4.08% over 24 hours. On-chain accumulation has not yet produced sustained upside because derivative flows and broader market sellers continue to weigh on price.

If shark accumulation strengthens and coincides with persistent negative exchange netflow while futures positioning becomes net-long, ETH could retest $4,390. Conversely, if selling pressure from other cohorts persists, failing to hold $4,000 risks a move toward $3,886.

Ethereum futures average order size

Source: CryptoQuant

Ethereum Perpetual volume

Source: Defillama

Frequently Asked Questions

How large were recent shark purchases?

One recorded shark buy on September 25 saw a labeled wallet purchase 21.59k ETH (~$87.43M). Multiple mid-size buys over short windows have materially contributed to negative exchange netflow.

What price levels should traders watch?

Key levels: support near $4,000 and $3,886; upside resistance and target near $4,390. Watch exchange netflow and futures average order size for confirmation of trend shifts.

Key Takeaways

  • Shark accumulation: Mid-sized 10k–100k ETH addresses are buying aggressively, increasing concentration.
  • Derivative rotation: Whales are active in futures, raising average order size and perpetuals volume.
  • Price implications: Sustained accumulation plus negative netflow could support a move to $4,390; failure at $4,000 risks $3,886.

Conclusion

Ethereum’s on-chain picture shows growing shark accumulation even as whales pivot to futures. The interplay between negative exchange netflow and rising futures order size will determine whether ETH reclaims $4,390 or slips below $4,000. Monitor on-chain metrics and derivatives flows closely for the next directional signal.

Published: 2025-09-25 • Updated: 2025-09-25 • Author: COINOTAG

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