Ethereum OG wallets are accumulating again, echoing the 2020 cycle. Analysts note whale flows, ETF inflows, and a new presale altcoin gaining traction.
Ethereum’s most seasoned investors, often called OG wallets, are making moves that remind analysts of the early 2020 cycle. In recent weeks, the OG wallets have rotated hundreds of millions worth of Bitcoin into ETH, as institutional adoption of Ethereum blooms.
In the midst of the action, analysts also spotted a number of these wallets accumulating MAGACOIN FINANCE, an emerging presale that many are now mentioning in the top crypto presale conversations.
On-chain data shows Ethereum whales purchased more than $456 million in ETH last week, with just nine wallets responsible for much of the activity. This shift came after profit-taking in Bitcoin, pushing the ETH/BTC ratio above 0.04 — its highest point of the year.
Ethereum has held strong around $4,600, supported by inflows of about $427 million in just a few days. Analysts say the move suggests whales expect stronger upside from Ethereum and altcoins heading into the next cycle.
It’s not just whales. Institutional flows are building momentum, too. Spot Ethereum ETFs attracted $900 million in inflows last week, nearly double what Bitcoin funds received. Since June, ETFs and treasuries have locked away close to 5% of ETH’s supply.
This tightening of available supply is a familiar pattern. Back in 2020, similar accumulation laid the foundation for Ethereum’s breakout run to all-time highs.
Some wallets are signalling conviction with high-risk strategies. One opened a $297 million leveraged ETH long at 15x, while an early Bitcoin holder shifted 6,000 BTC (~$690 million) into Ethereum, now holding over 278,000 ETH at an average of $4,585.
August also saw the creation of 48 new Ethereum whale addresses, far outpacing Bitcoin’s growth in new whales. That expansion underscores how confidence is consolidating around ETH.
MAGACOIN FINANCE accumulation by the ETH wallets has sparked speculation. However, analysts who follow the early-stage projects say the attention around the project is not surprising.
Technical analysis of MAGACOIN FINANCE shows striking similarity to the positioning of several tokens which exploded in that period. Indeed, the project’s solid roadmap and thriving community activity have helped boost demand. For some, MAGACOIN FINANCE’s early inclusion in whale strategies is a signal that it could become one of the best crypto presales in the next cycle.
Ethereum OG wallets do shape the market narrative with their movements. Investors and traders who follow their signals use their trades to assess market conditions and opportunities. Their capital rotation into ETH indicates that the tokens still have more room to grow.
At the same time, their selective presale entry into MAGACOIN FINANCE recalls behaviour that kicked off the 2020 bull run. Whether history repeats itself or not, smart investors are already positioning ahead of the next bull market.
