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The latest on-chain data shows that a prominent Ethereum whale has returned to the crypto market over the past week, as the ETH price persists above the $2,000 level.

ETH Whale Held $538M In Crypto In 2022

According to data from Arkham Intelligence, an Ethereum OG whale known as thomasg.eth has been on an Ether buying spree (valued at approximately $19.5 million) over the past week. The entity acquired spot Ether, wrapped ETH (WETH), and Aave-deposited ETH across Arkham-tracked wallet addresses, with the latest purchase worth $3 million on Friday, March 20.

Arkham revealed in its post in X that the whale once held around $538 million in cryptocurrency assets, including Ethereum, Wrapped Bitcoin (WBTC), and DAI at the peak of the market in 2021. However, the large-scale Ethereum investor had reduced their exposure to cryptocurrencies and downsized their portfolio to nearly zero by the middle of 2022.

HE ONCE HELD $500M IN CRYPTO – NOW HE’S BUYING BACK

Ethereum OG @thomasg_eth held $538M in ETH, WBTC and DAI at the top of the market in 2021. Now, he’s buying back. He just bought $3M of ETH, and he’s bought a total of $19.5M this week.

Ethereum OGs are stacking $ETH. pic.twitter.com/ttWQGweY7m

— Arkham (@arkham) March 21, 2026

Typically, strategic moves like thomasg.eth’s often send shockwaves through the crypto community, considering the holder’s whale status. Nevertheless, this acquisition seems like a sheet out of the “buy the dip” playbook, with the Ethereum price currently more than 56% down from its all-time high of $4,964. 

As of this writing, the price of ETH stands at around $2,153, reflecting no significant movement in the past day. The price action of the second-largest cryptocurrency seems to have improved in the past month, after a dreadful February performance, which saw a fall to around $1,800.

Ethereum Enters Historical Buy Zone — What Next?

Interestingly, popular crypto analyst Ali Martinez has put forward a bullish prognosis for the ETH price over the coming weeks. This optimistic outlook is based on the MVRV Ratio, which compares the coin’s market value to its realized value.

As highlighted by Martinez, the Ethereum price has witnessed historical rallies after the MVRV Ratio dropped to or below the 0.8 mark. Most recently, the price of ETH surged by 250% after the metric fell to this threshold in April 2025.

The trend is based on the fact that a low MVRV value indicates that the majority of the market is in a loss, measuring how deeply undervalued the asset currently.

According to the crypto analyst, the ETH MVRV dropped toward this threshold earlier this month, implying that a buy window has opened for the altcoin. This suggests that the price of Ethereum could be on the way back to its former high.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image by DALL-E, chart from TradingView

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Pensions consultancy Cardano has partnered up with UK-based social impact investor Big Society Capital to direct up to £195m (€232m) of new investment towards real estate fund strategies addressing the UK housing crisis.

The partnership will be a combination of Big Society Capital’s own £45m investment and £150m of client capital from Cardano, it was announced.

The partnership is calling on real estate fund managers to participate in a joint request for proposals (RFP) focused on fund strategies that increase the supply of good quality, affordable housing in the UK – alongside generating a market-rate financial return.

The organisations will also aim to facilitate additional institutional investment. Both firms will assess proposals on a fully independent basis.

The duo said that providers are currently unable to meet the demand for 145,000 new homes each year and with over 1 million people on social housing waiting lists.

“(T)he UK has a housing crisis that is unlikely to be solved through public investment alone,” they said.

Investors are increasingly turning to the social and affordable housing sector – already valued at £3bn, according to Big Society Capital, and expected to more than double by 2025 – in line with the growing trend for investors to demand stable returns, alongside positive social and/or environmental impact.

Gemma Bourne, investment director at Big Society Capital, said: “We predict that the social and affordable housing market will reach £8bn by 2025 as more fund managers and investors become aware of their potential to generate genuine and positive impact on the UK’s housing crisis.”

The social and affordable housing sector often displays interesting investment characteristics that can suit long-term pension savers: steady long-term rental income and capital growth, often with less correlation to the more traditional real estate markets.

Geordie Cox, Cardano’s investment manager, private markets, said: “This is a sector where investments can improve lives but also offer attractive investment characteristics for our (principally pension) clients: resilient, inflation-linked cash-flows; often with government backing and often diversifying in a portfolio.”

The RFP will be open to proposals that offer solutions to help address UK social and affordable housing challenges for the benefit of vulnerable or lower-income people, alongside generating attractive, risk-adjusted returns, the two firms stated.

A three-stage process will be launched on 16 February, the details of which will be available online.

The deadline for submissions is close of business on Friday 11 March 2022.

To read the latest edition of the latest IPE Real Assets magazine click here.