Why are OG crypto whales accumulating Ethereum amid crypto winter?

Ethereums holder data shows OG whales are moving Ether to self-custody. Among the whales, two whale addresses have withdrawn a combined 29,079 ETH worth $60 million from OKX and Binance to accumulate today.

Whales are accumulating $ETH.

0x46DB withdrew 19,503 $ETH($40M) from #OKX over the past 13 hours.

Another analyst also hinted at a shift where the whales added, yet balances with the two mid-tier groups decreased.

In August 2025, wallets with balances between 100 to 1,000 ETH had 9.79 million ETH. Those with balances between 1,000 to 10,000 ETH had 14.51 million ETH.

At the same time, the 10,000-100,000 ETH group owned 17.18 million ETH, and those with 100,000+ owned 2.75 million ETH. By Wednesday, the 100-1,000 ETH group reduced its total amount owned to 8.32 million ETH. On the other hand, the 1,000-10,000 ETH group reduced its total amount owned to 12.26 million ETH. This drop implies the two groups have reduced their ETH balance by 3.72 million since August 18.

On the other hand, those holding wallets with between 10,000 and 100,000 ETH recorded an increase in the balances to 19.77 million ETH. In addition, the number of those with balances of 100,000+ ETH rose to 3.68 million ETH. This top group added 3.52 million ETH.

In the past, the level of OG crypto whales holding has been higher at times of low price action, with valuation metrics leveling off above capitulation levels.

Ethereum has been one of the worst-performing assets in the present market crash. The coin has recovered now, changing hands for over $2K at press time. Ethereum may consolidate in a range between $1,900 and $2,200 as the market stabilizes. Analysts set a $2,300-$2,400 as a new price target.

Still, resistance levels are high above $2,200, and ETH will need to show increasing volumes into any trend that attempts to rise. Of course, should selling pressure resume, ETH may fall to $1,800 or $1,750, which is now established as a key support level.

A breakdown below $1,750 would likely encourage further panic selling and open up doors to potentially larger declines. Meanwhile, the coin is up 6% in the last 24 hours, now trading at $2,037.