Ethereum’s price has fallen below $3,400 for the first time since August, but large investors appear to have turned this correction into a buying opportunity. Data shows that whales have been accumulating vast amounts of ETH within a short window.

The accumulation coincides with Ethereum recording a new network throughput milestone, which adds further strength to the argument that the cryptocurrency is still solid even during the price weakness.

Whales Scoop Up $1.12 Billion Worth Of ETH In 48 Hours

Data from the on-chain analytics platform Lookonchain shows that some Ethereum whale addresses have accumulated a combined 323,523 ETH, valued at approximately $1.12 billion, within the past 48-hour period.

One of the biggest purchases came from a whale who bought 257,543

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