Ethereum whales have taken advantage of recent market conditions to accumulate a significant amount of Ethereum. In just two days, over 320,000 ETH, worth in excess of $1.1 billion, has been gathered as the price of Ethereum fell below the $3,000 mark.

This move by large holders seems to counterbalance extensive liquidations in the market, hinting at the possibility of a price bottom, yet analysts remain cautious about the fragility of the recovery. The implications of this large-scale accumulation by Ethereum whales could shape the market's future trajectory.