Arkham has revealed that a mysterious whale has made a huge Ethereum bet by purchasing an astonishing amount of Ethereum. $ETH About the Kraken. In terms of size, the acquisition is comparable to the recent acquisition of Ethereum by Tom Lee’s financial firm Bitmine.
Ethereum, on the other hand, has fallen slightly and is still struggling to maintain the psychologically important $2,000 line. The good news is that Ethereum has reached a peak in on-chain activity, hitting new all-time highs and even surpassing 2021 highs. But that doesn’t help increase prices.
Ethereum whale scoops $100 million $ETH
According to Arkham, an anonymous investor withdrew $92.97 million in Ethereum from Kraken. Whale then immediately split the purchase amount between two new wallets.
Some commentators believe this whale has a long-term position in the market. One X user suggested that Tom Lee may be purchasing more Ethereum from the new wallet.
Someone bought almost $100 million worth of products. $ETH
Mysterious whale just withdrew $92.97 million $ETH We acquired it from Kraken and distributed it to two new wallets.
Who do you think will buy it? $ETH? pic.twitter.com/2EijYa1ugX
— Arkham (@arkham) March 11, 2026
As U.Today reported earlier this week, popular analyst and financial expert Tom Lee, who currently heads the crypto treasury company Bitmine, has amassed an even larger amount of Ethereum, worth $120 million. This purchase is associated with Bitmine, not Lee himself.
In the last week, this company acquired 60,976 shares. $ETH Worth approximately $131 million. Bitmine currently holds over 4,534,563 Ethereum. This is equivalent to nearly $10 billion in fiat currency.
Ethereum activity has skyrocketed. tom lee and sailor
Data aggregator CryptoQuant reported that Ethereum’s on-chain activity has now reached new highs, surpassing the activity witnessed in the market in 2021. Here, Ethereum is leaving Bitcoin behind as the use of smart contracts, the number of active wallets, and the number and frequency of transfers have reached new peaks.
Ethereum activity is at an all-time high.
Active addresses, transfers, and smart contract calls continue to increase and exceed 2021 levels. $ETH Prices have fallen by more than 50%.
The reason is capital outflow. When there is no liquidity, network growth ≠ price. pic.twitter.com/qwxHyCY1KZ
— CryptoQuant.com (@cryptoquant_com) March 10, 2026
Still, Ethereum’s price is down 50% from its all-time high of $4,953 in August last year. The reason for this cited by CryptoQuant is capital outflow, in which case network expansion has not helped prices rise. However, Tom Lee believes in a bullish future for Ethereum.
He and Michael Thaler represent two different views on the future of the financial system. While Lee believes the financial system will run entirely on Ethereum, Thaler is betting that all world finance will be based on Bitcoin.
