Ethereum Whale Rebuilds Exposure with $19.5M in ETH Purchases

A significant Ethereum whale is making a comeback into the cryptocurrency market, according to data from Arkham Intelligence.

The wallet in question, thomasg.eth, held around $537 million in crypto assets at the 2021 market peak. It has now started accumulating again as ETH trades around 56% below its all-time high of $4,946 on Aug. 24, 2025.

The rebuild began with a fresh $3 million purchase on March 20, bringing the total value of thomasg.eth's position to over $19.5 million. This accumulation is taking place across Arkham-tracked wallets in spot, wrapped ETH (WETH), and Aave-deposited ETH.

This move comes as some market analysts believe that the price of ETH may be nearing a bottom. Bitmine Immersion Technologies, chaired by Fundstrat founder Tom Lee, which holds around 4.6 million ETH, is also doubling down on its conviction in Ethereum's price recovery.