Ethereum whales have accumulated 1.14 million ETH, valued at approximately $3.8 billion, over a 48-hour period. This activity includes $400 million in three major transactions: 39,000 ETH ($129 million) and two transfers of 40,000 ETH ($135 million each). The price of Ethereum has remained steady at $3,181 during this time. Analysts suggest institutional investors may be leveraging market dips to increase their holdings, with speculation surrounding the upcoming Pectra hard fork.