5-Year Record in the Ethereum Ecosystem: Whales Activate with 113,000 Massive Transactions

The 113,000 whale transactions on the Wrapped Ethereum (WETH) network over the past week have reached their highest level since May 2021, signaling a new era of institutional interest and active capital mobility.

The Ethereum ecosystem in the cryptocurrency market is witnessing activity not seen in a long time. According to data shared by Santiment, whale transactions valued at over $100,000 reached 113,000 on the network in the last week. This massive surge indicates that capital on the network is shifting toward decentralized finance (DeFi) sectors such as trading, lending, and liquidity, rather than remaining in passive storage.

This activity directly parallels the acceleration of US-based spot Ether ETF inflows. In particular, the growing demand for Ethereum products offered by BlackRock reinforces institutional investors’ confidence in the network. Furthermore, Robinhood Chain, which has drawn attention with high decentralized exchange (DEX) volume since July, has become a significant factor increasing traffic in this ecosystem by using Ethereum for transaction fees.

Institutional Giants’ Ethereum Accumulation and Infrastructure Investments

Activity on the institutional side is not limited to transaction volume alone. Bitmine increasing its Ethereum holdings to approximately 5.8 million ETH stands out as a critical development affecting supply balances in the market. Simultaneously, Bitmine, SharpLink, and Ethereum co-founder Joe Lubin are accelerating infrastructure work by supporting the Ethlabs project to meet institutional demand.

This five-year record on the WETH network proves that Ethereum is not just a store of value but is on its way to becoming a cornerstone of institutional finance. In this period where Layer-2 solutions and institutional treasury activities are heating up, market observers are closely monitoring this intensification of whale movements.