According to @CoinMarketCap, Trend Research purchased 46,379 ETH, increasing its total ETH holdings to about 580,000 ETH (source: CoinMarketCap on X, Dec 24, 2025). @CoinMarketCap reports this places the private company among the largest institutional ETH holders, behind only SharpLink and BitMine (source: CoinMarketCap on X, Dec 24, 2025). Traders often monitor such whale accumulation for potential impacts on ETH liquidity and order book depth in subsequent sessions, with the event flagged as market-relevant by @CoinMarketCap (source: CoinMarketCap on X, Dec 24, 2025).

According to @EmberCN, MicroStrategy (MSTR) made no BTC purchases last week and continues to hold 671,268 BTC valued at $60.441B with a $74,972 average cost and $10.114B in unrealized profit; source: @EmberCN (X, Dec 22, 2025). BitMNR (BMNR) increased its ETH treasury by 98,852 ETH at approximately $2,976 per ETH for a total of about $294M; source: @EmberCN (X, Dec 22, 2025). The update frames these as last week’s moves by the largest BTC and ETH treasury companies, highlighting a pause in BTC buying and active ETH accumulation; source: @EmberCN (X, Dec 22, 2025).

According to @EmberCN, MicroStrategy (MSTR) purchased 10,624 BTC at an average price of $90,615 last week, totaling approximately $962 million (source: @EmberCN). According to @EmberCN, MicroStrategy now holds 660,624 BTC valued at about $59.82 billion, with a reported average cost basis of $74,696 and unrealized profit of $10.473 billion (source: @EmberCN). According to @EmberCN, Ethereum treasury firm BitMNR (BMNR) also increased its ETH holdings around $2,978 last week, with the quantity not visible in the provided excerpt (source: @EmberCN). For trading, BTC participants can mark $90,615 (reported purchase price) and $74,696 (reported average cost) as reference levels, and note the add represents roughly 1.61% of MSTR’s stack based on the figures shared (source: @EmberCN). For ETH, ~$2,978 can be used as a treasury-linked reference zone based on the reported activity (source: @EmberCN).

According to @EmberCN, Bitmine purchased 41,946 ETH (about $130 million) today via BitGo and FalconX, bringing this week’s total to 97,649 ETH (about $296 million). Source: @EmberCN. Since July, Bitmine has reportedly been buying weekly from around $2,800, continuing through the $4,600 peak and back near $3,100, highlighting persistent ETH accumulation across a wide price band that is relevant for liquidity and market depth. Source: @EmberCN.

According to @ai_9684xtpa, Ethereum wallet 0xE0eF6F6fd0732810B2D5D747Bdc5ca1b3cf19865 bought 736 ETH on Sep 25 at 4,026 USD for approximately 2.96 million USD. According to @ai_9684xtpa, the same wallet added 2,732 ETH on Dec 2 to Dec 3 at an average 2,988 USD, committing a further 8.16 million USD. According to @ai_9684xtpa, cumulative purchases now total 3,468 ETH with 11.128 million USD deployed, implying an average cost of 3,208.8 USD and an unrealized loss of about 420,000 USD. According to @ai_9684xtpa, on-chain reference is explorer.cow.fi/address/0xE0eF6F6fd0732810B2D5D747Bdc5ca1b3cf19865 for transaction verification.

According to @simplykashif, citing Bitwise, ETH buying by treasuries fell 81% from August. According to Bitwise data shared by @simplykashif, this represents a sharp deceleration in ETH accumulation by treasuries.

According to @lookonchain, Tom Lee’s Bitmine bought 96,798 ETH (approximately $273M) last week and now holds 3,726,499 ETH (approximately $11.52B), source: Lookonchain. Based on those figures, the weekly addition is roughly 2.6% to 2.7% of the reported position and implies an average executed price near $2,820 per ETH, source: Lookonchain. These on-chain flow numbers show concentrated ETH accumulation by a single entity during the past week, source: Lookonchain.

According to @OnchainLens, Bitmine (@BitMNR) purchased 96,798 ETH (approximately $272.3M) last week, bringing its Ethereum balance to 3,726,499 ETH valued at $10.48B (source: @OnchainLens). According to a PR Newswire company announcement by Bitmine Immersion (BMNR), the firm disclosed its ETH holdings have reached about 3.73 million tokens and that total crypto and cash holdings are $12.1B (source: PR Newswire). For traders, the actionable datapoints are the weekly add of 96,798 ETH and the disclosed end-balance near 3.73M ETH for Bitmine, which quantify recent large-entity flows without relying on price assumptions (sources: @OnchainLens; PR Newswire).

According to @StockMKTNewz, Tom Lee and Bitmine (BMNR) purchased 96,798 ETH over the past week and now hold a total of 3.73 million ETH, source: @StockMKTNewz.

According to Onchain Lens (data: Nansen), wallet 0x73781209F3B0f195D0D3fA9D6b95bB61c54c1ca6 spent an additional $12.82M DAI to acquire 4,234 ETH. According to Onchain Lens (data: Nansen), the whale’s cumulative purchases now total 5,343 ETH for $16.08M DAI at an average price of $3,010. According to Onchain Lens (data: Nansen), the address still holds $55M DAI, a sizable on-chain stablecoin balance traders track for potential flow signals.

According to @EmberCN, Bitmine bought 69,822 ETH last week worth about $202 million (source: @EmberCN, X, Nov 24, 2025). Bitmine now holds 3.63 million ETH valued near $10.19 billion, representing 3% of ETH supply (source: @EmberCN). The reported average cost basis is $3,988 per ETH, setting a whale breakeven reference at $3,988 for ETH traders to monitor (source: @EmberCN). Based on these figures, Bitmine’s unrealized loss is $4.28 billion or -29.6% on its ETH position (source: @EmberCN).

According to @EmberCN, Bitmine received 17,242 ETH (about $48.96M) from BitGo and FalconX roughly 8 hours ago (source: @EmberCN). According to @EmberCN, Bitmine’s total weekly accumulation reached 63,114 ETH (about $188M) via Kraken, BitGo, and FalconX (source: @EmberCN). According to @EmberCN, Bitmine holds 3.56 million ETH at an average cost of $4,009, implying an unrealized loss of approximately $4.16B (source: @EmberCN).

According to @EmberCN, Bitmine purchased 54,000 ETH last week (about $180 million), bringing its reported holdings to 3.56 million ETH (about $11.27 billion), nearing 3% of total ETH supply; source: @EmberCN on X, Nov 17, 2025, x.com/BitMNR/status/1990431998259736783. The reported blended cost basis is $4,009 per ETH, implying an unrealized loss of roughly $2.98 billion (-21%); source: @EmberCN on X, Nov 17, 2025, x.com/BitMNR/status/1990431998259736783. For trading context, the concentration near 3% of supply and the $4,009 cost basis set notable on-chain reference levels that participants may monitor for liquidity and positioning signals; basis and concentration figures source: @EmberCN on X, Nov 17, 2025, x.com/BitMNR/status/1990431998259736783.

According to @lookonchain, a whale tied to the “66k ETH Borrow” cluster purchased 30,548 ETH (about USD 105.36M) in the past hour. Source: @lookonchain on X, Nov 12, 2025. According to @lookonchain, cumulative buys since Nov 4 reached 385,718 ETH (about USD 1.33B), with USD 270M of the purchasing funds borrowed from Aave. Source: @lookonchain on X, Nov 12, 2025. According to @lookonchain, related addresses disclosed for monitoring are 0x85e05C10dB73499fbDeCAb0dfbB794a446feEeC8, 0x6e9e81EfCC4CBff68eD04c4a90AeA33cB22c8c89, 0xE5C248D8d3F3871bD0f68E9C4743459C43BB4e4c, and 0xFaf1358Fe6a9FA29A169Dfc272B14E709f54840f. Source: @lookonchain on X, Nov 12, 2025.

According to @OnchainLens, the wallet that previously borrowed 66,000 ETH withdrew an additional 28,262 ETH (approximately $98.59M) from Binance and now holds 355,164 ETH valued around $1.21B, with the address referenced via Arkham Intelligence (source: Onchain Lens on X; Arkham Intelligence, address 0x85e05C10dB73499fbDeCAb0dfbB794a446feEeC8). @OnchainLens characterizes this activity as continued accumulation by the whale based on the latest on-chain movements (source: Onchain Lens on X).

According to @EmberCN, a whale or institution that previously shorted ETH for a $24.48M profit pivoted to long by buying 191,477 ETH at $3,335 on Nov 5, now showing $47.87M in unrealized gains. Source: @EmberCN on X; debank.com/profile/0xe5c248d8d3f3871bd0f68e9c4743459c43bb4e4c; x.com/EmberCN/status/1988053052059009220. According to @EmberCN, the same address borrowed 100M USDT from Aave about 7 hours ago, transferred it to Binance, and withdrew 44,288 ETH worth about $156M to self-custody, indicating leveraged accumulation activity. Source: @EmberCN on X; debank.com/profile/0xe5c248d8d3f3871bd0f68e9c4743459c43bb4e4c; x.com/EmberCN/status/1988053052059009220. According to @EmberCN, over the past week the address accumulated a total of 235,765 ETH valued around $795M at an average entry price of $3,372, establishing the reported cost basis for the position. Source: @EmberCN on X; debank.com/profile/0xe5c248d8d3f3871bd0f68e9c4743459c43bb4e4c; x.com/EmberCN/status/1988053052059009220.

According to @OnchainLens, the ETH whale who previously borrowed 66K ETH to sell and later bought 257,543 ETH ($896M) during the dip appears to be rebuilding exposure, corroborated by Arkham wallet explorer data for address 0xE5C248D8d3F3871bD0f68E9C4743459C43BB4e4c (intel.arkm.com/explorer/address/0xE5C248D8d3F3871bD0f68E9C4743459C43BB4e4c). According to @OnchainLens and Arkham, recent transactions include depositing 34,156 ETH ($120.3M) into Aave, borrowing $60M USDT and sending it to Binance, buying 23,500 ETH ($82.62M) and supplying it to Aave V3, borrowing $40M USDC and sending it to Binance, and buying 20,787 ETH ($73.81M) and supplying it to Aave V3 (intel.arkm.com/explorer/address/0xE5C248D8d3F3871bD0f68E9C4743459C43BB4e4c). According to @OnchainLens and Arkham, this sequence totals 78,443 ETH supplied as collateral on Aave V3 and $100M in stablecoins moved to Binance, aligning with @OnchainLens’s characterization that the wallet is building its position again (intel.arkm.com/explorer/address/0xE5C248D8d3F3871bD0f68E9C4743459C43BB4e4c). According to @OnchainLens and Arkham, the prior accumulation of 257,543 ETH ($896M) provides scale context for traders assessing order book liquidity and potential flow impact from this ongoing activity (intel.arkm.com/explorer/address/0xE5C248D8d3F3871bD0f68E9C4743459C43BB4e4c).

According to Lookonchain, a tracked whale that previously borrowed 66,000 ETH to sell later accumulated 257,543 ETH on a market dip and has now purchased an additional 23,501 ETH worth about USD 82.63M, source: Lookonchain on X, x.com/lookonchain/status/1987940934441750913, Nov 10, 2025. According to Lookonchain, the same wallet borrowed 40M USDT and transferred the funds to Binance, indicating a fresh stablecoin inflow to the exchange by this entity, source: Lookonchain on X, x.com/lookonchain/status/1987940934441750913, Nov 10, 2025. According to Lookonchain, this sequence of on-chain buys and exchange-bound stablecoins from the same wallet is a material flow signal relevant to short-term ETH trading setups, source: Lookonchain on X, x.com/lookonchain/status/1987940934441750913, Nov 10, 2025.

According to @OnchainLens, Bitmine purchased 18,271 ETH worth $64.59M from Kraken on Nov 10, 2025 (source: @OnchainLens). In total, Bitmine has acquired 41,792 ETH worth $147.55M from BitGo and Kraken (source: @OnchainLens). The transfers are tied to addresses 0xcAD31538A87D1dA737b3B5A9d4ca0cb9832c3D38 and 0xc5cf86486510a0da87d06aad67513ccdb84dcbf4 (source: @OnchainLens). The implied average acquisition prices are about $3,536 per ETH for the latest tranche and $3,533 overall, based on the reported amounts and values (source: @OnchainLens). Kraken operates a centralized crypto exchange and BitGo is a digital asset custodian, framing these as exchange and custody flows relevant to spot liquidity monitoring (sources: Kraken, BitGo).

According to @lookonchain, a wallet holding 610 million USDC borrowed 66,000 ETH worth 265 million dollars from Aave about two weeks ago and deposited it to Binance at 4,020 dollars per ETH, source: @lookonchain. Over the past two days, the same entity withdrew 174,166 ETH worth 621 million dollars from Binance at 3,568 dollars per ETH, source: @lookonchain. After repaying the borrowed ETH, the wallet still holds 108,105 ETH valued at about 380 million dollars, with realized profit exceeding 29 million dollars, source: @lookonchain.