Large investors are stepping back into the crypto market after last week’s sell-off, with Ether the principal target. Data compiled from on-chain monitors show that whales accumulated 116,893 ETH worth $265.3 million on June 21, immediately after prices sank. Early on June 23 a newly created address bought an additional 50,256 ETH for $112.9 million on Binance. The most persistent buyer appears to be a wallet believed to be associated with ConsenSys, which has purchased 161,112 ETH—valued at about $422 million—through Galaxy Digital’s over-the-counter desk in the past three weeks, including a fresh 3,704 ETH top-up on June 24. Speculative positioning is rising alongside spot accumulation. On June 23 an unidentified trader opened a 25-times-leveraged long worth roughly $100 million on Ether, while several high-leverage short sellers in both Bitcoin and Ether were forced into partial liquidations as prices bounced, according to blockchain analytics feeds. Capital is also flowing into other digital assets and venues. A wallet linked to trading firm Cumberland has received 454 million USDT from Tether since June 24 and dispersed the stablecoins across Coinbase, Binance, Bybit, OKX, Kraken and other exchanges. Separately, 274,788 SOL—about $39.9 million—was transferred from wagering site Stake.com to Hyperliquid, marking the largest single spot deposit ever recorded on that platform and helping lift its total deposits above $430 million. The combination of sizable spot purchases, OTC activity and renewed leverage suggests that institutional and high-net-worth players are positioning for a rebound in Ether and the broader digital-asset market, though the heavy use of leverage underscores the risk of sharp, forced liquidations if prices turn lower again.