Ether Sees Massive Smart Investor Buys, Relief Rally Ahead?

Ether is trading in a narrow range below $3,000 on Dec. 24. Some traders are calling for a broader down move, but on chain data shows that smart investors are steadily buying the dips.

Data from Lookonchain shows the so-called 66kETHBorrow whale added another 40,975 ETH worth about $121 million late on Dec. 23. This wallet previously bought 528,272 ETH worth about $1.57 billion.

Since November 4, the whale has purchased a total of 569,247 ETH worth about $1.69 billion. Interestingly, around $881.5 million of the capital used for these buys came from loans on Aave.

This week, Fasanara Capital also added ETH exposure. The fund bought $19.72 million in ETH and sent the tokens to Morpho as collateral. Moreover, it also borrowed $13 million in USDC to buy more ETH.

Meanwhile, the number of wallets holding between 10,000 and 100,000 ETH continues to surge, according to the data by CryptoQuant. This suggests that many smart investors have bought the ongoing dips to increase their holdings.

Selling Pressure Still Present

Despite strong buying interest, several market experts don’t see any major move for ETH in the near-term. BitMEX co-founder Arthur Hayes just sent another 682 ETH worth about $2 million to Binance for sale.

Over the past week, he sold 1,871 ETH worth about $5.53 million to invest in DeFi tokens. His buys included 1.22 million ENA worth $257,500, 137,117 PENDLE worth $259,000, and 132,730 ETHFI worth $93,000.

Relief Rally or Downturn?

ETH is trading around $2,932, down by 1% in the past day. The leading crypto has been mostly trading within the $2,800-$3,200 band since mid-Nov.

CryptoPulse noted that the ETH price momentum is slowing as it seems to be nearing a 200-day exponential moving average test. He added that a bounce at that line would keep the bullish structure intact.

However, a break below the 200 EMA could result in a drop toward the $2,000-$2,100 level to fill the monthly fair value gap.

Analyst BitBull also recently predicted that no rally is likely before the year-end. He sees strong Ether bids near the $2,600 zone and expects that zone to hold in the coming weeks.

The analyst added that any brief dip below it would be a good buying opportunity and could lead to a rally in Q1 2026.

PEPENODE Builds Interest as ETH Stays Flat

As ETH trades sideways and the market waits for direction, traders are shifting to smaller projects like PEPENODE. Built around virtual meme coin mining, the platform removes the need for physical hardware or technical skills.

Users create virtual server rooms, buy miner nodes, and upgrade them over time. Each node adds hashpower inside a simulated system, allowing users to mine meme coins in a simple and interactive way. The experience feels closer to a game, but the mining logic remains structured.

PEPENODE also offers staking, with a reward rate of 546% for early participants. The project has gained strong early demand and its ongoing crypto presale has raised $2.38 million so far.

The current token price is $0.0012112, with the next price increase scheduled within the next few days. Investors looking for high-potential early stage projects can try their hands on PEPENODE.

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