According to on-chain data shared by Lookonchain, a company named SharpLink Gaming recently added 188,478 ETH (worth approximately $473.6 million) to its portfolio at an average price of $2,513. Shortly after this massive transaction, the firm acquired another 1,989 ETH via an over-the-counter (OTC) deal, valued at $4.82 million. 

Whales and institutions are still buying $ETH!

SharpLink Gaming, which previously announced a purchase of 188,478 $ETH($473.6M) at $2,513, bought another 1,989 $ETH($4.82M) via OTC 5 hours ago.

Meanwhile, whale 0x1fc7, who bought and staked 3,201 $ETH($8.1M) a week ago, bought… pic.twitter.com/nwzSsFyRfA

— Lookonchain (@lookonchain) June 28, 2025

Ethereum Whales Drive Market with Staking Activity 

Meanwhile, an Ethereum whale identified by the address “0x1fc7” continued its aggressive buying trend. The whale acquired 3,201 ETH last week and staked the entire amount. Now, the same wallet has staked an additional 1,888 ETH, worth around $4.56 million. 

At the time of writing, ETH was trading at $2,428. After moving within a tight range over the past four days, these high-volume purchases may indicate growing institutional demand and a potential bullish trend. According to Sentora (formerly IntoTheBlock), demand for DeFi and smart contract usage on the Ethereum network has surged significantly. As a result, Ethereum’s network fees increased by 130.4%. These fees represent the total amount users pay to perform transactions on the blockchain. 

Ethereum Staking Surpasses 35 Million ETH 

Additionally, Ethereum’s net flow to centralized exchanges turned negative, hitting -$293 million. This reflects ongoing buying pressure and cautious withdrawal strategies due to market volatility. 

Ethereum also passed a critical psychological milestone. Over 35 million ETH is now locked in staking contracts, representing 28.3% of the total supply. This equates to approximately $84 billion in value, marking the highest staking volume ever recorded. 

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Whale Movements and On-Chain Data 

According to IntoTheBlock, wallets holding 1-10 million DOGE accumulated 100 million tokens in the last 30 days. Large transaction volume surged by 600% in the past month, with transactions over $1 million increasing by 540%. This indicates strong whale interest in DOGE. Additionally, daily active addresses exceeded 150,000, reaching the highest level since November 2024. This network activity reflects increased user engagement and a bullish sentiment. Whale movements are often seen as a precursor to price increases. 

Technical Analysis: $0.29 Target 

Dogecoin is showing positive signals in technical indicators. A symmetrical triangle formation suggests breakout potential. Meanwhile, the RSI has moved out of the oversold zone, supporting upward momentum. Analysts predict a swift move to $0.29 if the $0.19 resistance is broken. However, if the $0.14 support is breached, the price could drop to $0.06. IntoTheBlock’s Large Holders Netflow data confirms accumulation by major investors, indicating that short-term targets are consistent. 

ETF Expectations and Institutional Interest 

Institutional interest in Dogecoin is growing. 21Shares’ DOGE ETF application is under SEC review. Polymarket prices the approval odds at 64%, while Bloomberg estimates an 80% chance. ETF approval could drive the price upward. As a result, investors are closely monitoring DOGE. On the X platform, positive comments about whale purchases and ETF rumors are prominent. Institutional inflows are breaking Dogecoin’s “meme coin” perception, positioning it as a serious asset. 

Dogecoin surged 12% in the last 24 hours, delivering strong performance. Trading volume in the derivatives market increased by 75.9%. Analyst Kevin Capital identifies $0.1840 and $0.1920 as short-term targets. In the long term, some experts predict $1. IntoTheBlock’s data shows that whale accumulation and network activity support these targets. 

Dogecoin’s price is showing bullish signals driven by whale movements, on-chain data, and ETF expectations. Investors are locked on the $0.29 target. 

***NOT INVESTMENT ADVICE ***

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Whale Activity Sparks Increased Volatility in SOL Market

On February 26, 2025, a significant market movement occurred. According to Lookonchain data, a whale unstaked 1,366,028 SOL (valued at $198 million) and transferred it to FalconX. After this transfer, FalconX deposited 440,202 SOL (valued at $62.6 million) to Binance and Coinbase. Following this movement, SOL‘s price initially dropped from $145.00 to $142.50. During this period, trading volumes increased, with Binance recording 5.2 million SOL traded and Coinbase seeing 3.8 million SOL traded.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

This whale’s actions have created a perception of selling pressure, which led to a price dip. By 15:00 UTC, SOL’s price further decreased to $140.00, reflecting the market’s reaction to the perceived selling pressure.

For SOL, these developments could lead investors to adjust their strategies. The unstaked SOL tokens moving to centralized exchanges could indicate a potential sell-off, further increasing volatility. In this case, traders should be cautious of potential price declines and adjust their strategies accordingly.

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