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Ethereum saw fresh whale accumulation on August 11 as one address withdrew 9,000 ETH, worth about $16.87 million, from Gemini. The address accumulated roughly 121,000 ETH, worth about $227 million, during the past month. Most of the holdings already sit in staking, according to the supplied on-chain data.
The latest withdrawal added to a month-long accumulation pattern. The Data Nerd monitoring tracked the 9,000 ETH transfer, while BlockBeats On-chain Detection reported the broader 121,000 ETH position.
On the four-hour chart, ETH traded at $1,872.50 near the lower Bollinger Band at $1,869.24. The 50-period EMA stood at $1,898.74, while the 200-period EMA sat at $1,846.42.
The MACD remained in a bearish death-cross structure at -6.35, while RSI stood at 36.23. Could continued whale accumulation offset weak short-term momentum around these technical levels?
Also Read: Bitcoin Holds Near $64,800; Ethereum Outpaces the Broader Market
SharpLink reported a $394.3 million net loss for the second quarter. This compared with a $103.4 million loss in the same quarter of 2025. The company recorded $321 million in unrealized losses on its ETH holdings. It also reported $76.1 million in impairments tied to LsETH and weETH.
Revenue rose to $11.5 million from $0.7 million a year earlier. SharpLink raised $75 million through a direct share offering at $7.49 per share during the quarter. SharpLink used part of the proceeds to buy 10,000 ETH and repurchase 2.1 million shares at $4.70 each. It held 886,881 ETH on June 30, later rising to 888,938 ETH.
BitMine Immersion repurchased 3 million shares last week, lifting total buybacks since July to 19.1 million shares. The purchases fall under its approved $4 billion repurchase program. BitMine also acquired 7,931 ETH, taking total holdings to 5.805 million ETH. It staked 5.067 million ETH through MAVAN, about 150,000 ETH more than last week.
The company reported $257 million in annualized staking revenue. It also held $180 million in Beast Industries, $69 million in Eightco Holdings and $104 million in cash and marketable securities.
Meanwhile, US spot Ethereum ETFs recorded $244.9 million in net inflows last week, their largest weekly total since mid-April. ETH also saw $49.58 million in liquidations over 24 hours. Long liquidations accounted for $43.34 million. On the daily chart, ETH traded near the 20-day EMA at $1,884 and 50-day EMA at $1,862.
The 100-day EMA stood at $1,924. The 14-day RSI stayed just below 50, while the Stochastic Oscillator remained in the low 40s.
Ethereum whale activity, corporate treasury moves and ETF flows all remained active as ETH traded near major moving averages. SharpLink absorbed heavy Q2 crypto losses, while BitMine expanded both its holdings and staking position. The next market focus remains ETH’s ability to hold nearby support while inflows and accumulation continue.
