The cryptocurrency market experienced volatility over the weekend, with total market capitalization declining on Saturday, rebounding on Sunday, and maintaining an upward trend until Monday.
Amid this volatility, whale activities emphasized various strategies, with notable buying and selling observed in several cryptocurrency assets, including Ethereum (ETH) and Bitcoin (BTC).
Cryptocurrency Whales Execute Diverse Strategies Amidst Market Volatility
Ethereum has been attracting significant market attention during its recent strong rally, and whales are no exception. During the weekend's downturn, whale address 0x3c9E continued aggressive ETH selling.
According to LookOnChain's report, this whale sold 33,682 ETH, amounting to approximately $119 million in early August. Arthur Hayes, CIO of Maelstrom Fund, also sold 2,373 ETH, worth about $8.32 million. Additionally, this executive liquidated:
"776,000 ENA ($462,000) and 3.886 billion PEPE ($414,700)," according to a LookOnChain post.
These selling actions might suggest profit-taking strategies amid market uncertainty. Meanwhile, other whales took bullish positions.
BeInCrypto reported that one whale purchased $300 million worth of ETH. Additionally, SharpLink Gaming bought 30,755 ETH for $108.57 million. The company currently holds 480,031 ETH, valued at approximately $1.65 billion.
OnChain Lens highlighted another whale receiving 25,540 ETH from FalconX.
"Previously, this whale received 35,615 ETH, approximately $131.1 million, which was sent to two wallets for ETH2.0 staking and is currently showing a $10 million loss," according to the post.
These purchases indicate confidence in ETH's long-term value despite short-term volatility. Meanwhile, cryptocurrency whales also adjusted Bitcoin positions.
Today, Metaplanet announced adding 463 BTC to its holdings. The company spent approximately $53.7 million for this stack, equivalent to about $115,895 per coin.
"As of August 4, 2025, we hold 17,595 BTC, valued at approximately $1.78 billion, which is about $101,422 per Bitcoin," wrote Metaplanet CEO, Simon Gerovich.
Furthermore, El Salvador increased its national Bitcoin holdings to 6,258.18 BTC, currently worth approximately $718 million. This reinforces the intention to maintain assets as financial reserves. Additionally, a dormant address holding 306 BTC, inactive for 12.4 years, was reactivated, sparking speculation about long-term holders' intentions.
Other tokens also attracted whale attention. On-chain analysts emphasized that a Hyperliquid (HYPE) whale (0x7BEโฆ480D8) deposited 4.07 million USDC to the Hyperliquid exchange and purchased more HYPE tokens. This large purchase elevated the wallet to the 8th rank among top holders.
"Currently, including staked portions, he holds 487,209.95 HYPE (approximately $18.65 million), with unrealized profits of $1.535 million," stated the analyst.
Meanwhile, Nansen identified MAGICIAN, AIPEPE, and CHILLHOUSE as tokens with the largest smart money net inflows over the weekend.
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โ Nansen ๐งญ (@nansen_ai) August 3, 2025
Top tokens by Smart Money net inflows in the past 24h:
$MAGICIAN (ETH): +$132K$AIPEPE (ETH): +$126K
$CHILLHOUSE (Solana): +$67K pic.twitter.com/9hTUh73z07
Weekend whale movements revealed market outlook polarization. Some cryptocurrency whales' selling pressure and other institutions' aggressive buying emphasized contrasting investment strategies.
However, Sunday's market rebound and today's continued rise suggest that buying pressure may outweigh selling pressure.
