Early Ethereum whale thomasg.eth bought $19.5 million in ETH this week, including $3 million on March 20. The wallet held $537 million at the 2021 peak.
ETH trades 56% below its $4,946 all-time high as US spot Ethereum ETFs recorded $234.1 million in net outflows over three days.
Bitmine's Tom Lee believes ETH has bottomed, citing Tom DeMark's 93% correlation with S&P 500 recoveries. He notes ETH's $2,241 realized price and 49,000% decade return, outperforming Bitcoin. Bitmine is buying heavily, expecting the mini-crypto winter to end.