Whales Add $1.3 Billion in ETH After ERC-8004 Unveiling as Sentiment Remains Low

Beincrypto reports large Ethereum holders increased their stakes by about 430,000 ETH—roughly $1.3 billion—after the unveiling of ERC-8004, even as market sentiment sits near yearly lows and has limited a stronger price reaction.

ERC-8004 is an AI-focused standard intended to give on-chain agents identity, reputation and validation and to enable interoperable AI services, but Santiment data shows positive sentiment near 18, down more than 90% from the Pectra launch baseline of 259. On-chain indicators also show a hidden bullish RSI divergence and whale accumulation (holdings moved from 104.18 million ETH to 104.61 million ETH), while the Smart Money Index remains below its signal line, suggesting cautious positioning by historically well-timed capital.

Technically, Ethereum needs a daily close above $3,160 to invalidate a bearish pattern, with a confirmed break above the $3,390–$3,400 neckline activating a double-bottom structure and opening conditional targets near $3,790 and $4,170; an extension toward $4,410 would require broader sentiment and smart-money expansion. Conversely, a drop under $2,930 would weaken the recovery case and losing $2,780 would invalidate the double-bottom scenario.