A prominent crypto analyst says deep-pocketed investors have been spotted loading up huge amounts of Ethereum (ETH).

Trader Ali Martinez tells his 119,200 followers on the social media platform X that crypto whales gobbled up more than $3.80 billion worth of Ethereum in a two-day span.

“Whales have bought over 1.14 million Ethereum $ETH in [48 hours!]”

At time of writing, Ethereum is trading for $3,340.

The trader is also keeping an eye on the interoperable blockchain Polkadot (DOT). According to Martinez, DOT looks primed to ignite a big upside burst as it threatens to break out from a bullish continuation pattern.

“Polkadot DOT looks ready to break out of a bull pennant, targeting $17!”

At time of writing, DOT is worth $6.34.

Looking at the layer-1 protocol Aptos (APT), Martinez warns that the crypto asset appears to be forming a bearish reversal structure on the 12-hour chart. The trader says that APT has to spark rallies soon otherwise the altcoin might witness a severe corrective move.

“Aptos APT appears to be forming a head-and-shoulders pattern, with a potential downside target of $4.30. A sustained close above $10.50 is needed to invalidate the bearish outlook.”

At time of writing, APT is trading for $8.26.