The cryptocurrency market experienced volatility over the weekend, with total market capital declining on Saturday before recovering on Sunday and maintaining an upward momentum on Monday.
Amid this volatility, whale activity highlighted different strategies, with notable buying and selling across various cryptoassets, including Ethereum (ETH), Bitcoin (BTC), and more.
Crypto Whales Implement Diverse Strategies Amid Market Fluctuations
Ethereum has attracted significant market attention during its price surge, and whales were no exception. As it declined over the weekend, a whale address 0x3c9E continued to sell ETH heavily.
Lookonchain reported that whales sold a total of 33,682 ETH worth approximately 119 million USD in early August. Arthur Hayes, CIO of Maelstrom Fund, also sold 2,373 ETH valued at 8.32 million USD. Additionally, the director liquidated:
"7.76 million ENA (4.62 million USD) and 38.86 billion PEPE (414,700 USD)," Lookonchain posted.
This selling could indicate a profit-taking strategy in an uncertain market. Conversely, other whales adopted a more optimistic stance.
BeInCrypto reported that a whale purchased 300 million USD of ETH. Moreover, SharpLink Gaming bought 30,755 ETH for 108.57 million USDC. The company now holds 480,031 ETH, valued at approximately 1.65 billion USD.
OnChain Lens highlighted that another whale received 25,540 ETH from FalconX.
"Previously, the whale received 35,615 ETH, valued at 130.11 million USD, which was sent for staking with ETH2.0 in 2 wallets, currently facing a 10 million USD loss," the post stated.
These purchase transactions demonstrate confidence in ETH's long-term value despite short-term volatility. Meanwhile, crypto whales also adjusted their positions with Bitcoin.
Today, Metaplanet announced adding 463 BTC to its portfolio. The company spent approximately 53.7 million USD to purchase this amount, averaging around 115,895 USD per coin.
"As of 04/08/2025, we hold 17,595 BTC purchased for ~1.78 billion USD at ~101,422 USD per bitcoin," Metaplanet's CEO, Simon Gerovich, wrote.
Furthermore, El Salvador increased its national Bitcoin reserves to 6,258.18 BTC, currently valued at approximately 718 million USD, reinforcing their commitment to this asset as a treasury reserve. Additionally, an inactive address holding 306 BTC, dormant for 12.4 years, was reactivated, sparking speculation about long-term holders' intentions.
Other tokens also attracted whale attention. An on-chain analyst highlighted that a Hyperliquid (HYPE) whale (0x7BE…480D8) increased their position by sending 4.07 million USDC to the Hyperliquid exchange and purchasing more HYPE tokens. This significant purchase elevated the wallet eight ranks in the top holder rankings.
"Currently, including staked portion, they hold 487,209.95 HYPE (approximately 18.65 million USD), with unrealized profits of 1.535 million USD," the analyst said.
Meanwhile, Nansen identified MAGICIAN, AIPEPE, and CHILLHOUSE as tokens with the largest smart money inflows over the weekend.
Whale movements over the weekend revealed a polarized market outlook. Selling pressure from some crypto whales, coupled with strong purchases by other entities, highlighted diverse investment strategies.
However, the market's recovery on Sunday and continued upward momentum today suggest that buying pressure might be overcoming sell-offs.
