On August 12th, an Ethereum whale made headlines after withdrawing 12.8 million USDT from Aave and using the funds to purchase 5,025 ETH at a price of $2,547 per ETH. In addition, Ethereum has managed to attract $155 million in inflows over the past week.

The accumulation by whales and the influx of investment into Ethereum have been the catalysts behind Ethereum’s strong recovery following the sell-off on August 5th and 6th. Ethereum is currently trading at $2,713, up 6.83% in the past 24 hours.