According to analytics platform Lookonchain, a newly created wallet has received a total of 24,294 EHT tokens ($86 million) from digital asset prime brokerage FalconX over the last 24 hours.
Another whale received 15,627 ETH tokens ($57 million) from an over-the-counter wallet linked to Galaxy Digital.
This shows that whales continue to buy ETH tokens following the recent correction.
15% correction
On Aug. 3, the ETH price dropped to $3,354, the lowest price since July 17. The token had plunged by as much as 15% within just a week alongside other major altcoins.
The correction was exacerbated by the recent stock market pullback driven by underwhelming jobs data.
Nevertheless, the recent buying spree shows that whales are still interested in ETH, possiby eyeing to buy the dip.
SharpLink's new EHT purchase
Apart from the aforementioned whales, ETH is seeing more corporate demand, with SharpLink Gaming acquiring another 18,680 tokens for an estimated $67 million.
The upstart company, which aims to be Ethereum's Strategy, now holds roughly $1.81 billion worth of ETH tokens.
As reported by U.Today, SharpLink Gaming recently surpassed the Ethereum Foundation to become the token's largest corporate holder.
Strong ETF demand
Ethereum exchange-traded funds (ETFs) attracted an eye-popping $5.4 billion worth of inflows in July, substantially outperforming Bitcoin ETFs despite the fact that the largest altcoin is only 20% the size of the crypto king.
Such impressive inflows show that Ether has finally managed to attract significant institutional interest after a long period of severe underperformance.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team