Ethereum Poised for Potential Surge as Whales Accumulate $135 Million in ETH
6 days ago
2 min read
Ethereum (ETH) is showing signs of a potential price surge as large investors, known as whales, have been actively accumulating the cryptocurrency. Despite recent market volatility and Ethereum struggling to maintain the $4,000 level, analysts are optimistic about a significant rally, drawing parallels to its 2021 performance.
Key Takeaways
Whales have acquired approximately $135 million worth of Ethereum in recent transactions.
This accumulation by large investors suggests renewed institutional interest in ETH.
Analysts predict a potential "euphoric run" for Ethereum, possibly targeting $8,000.
Ethereum's Price Action and Analyst Predictions
Ethereum has been trading below the crucial $4,000 mark, facing resistance at $4,200. While the Federal Open Market Committee (FOMC) meeting adds to market uncertainty, some experts believe ETH is preparing for a significant price discovery rally. Analysts like Daan Crypto Trades are watching the $4,100 level as a key indicator for bulls. Conversely, Crypto Yhodda and Crypto Jelle foresee a potential "last euphoric run," citing similarities to Ethereum's 2021 breakout and an 18-month bullish megaphone formation.
Whale Accumulation Signals Institutional Interest
Recent on-chain data reveals substantial buying activity from large-scale investors. Santiment data indicated that whales added over 218,000 ETH in the past week. More specifically, two new addresses, likely linked to the institutional treasury company Bitmine, received 33,948 ETH, valued at $135 million, from FalconX. Bitmine's holdings now exceed 3.1 million ETH, representing about 2.6% of the circulating supply. This strategic accumulation by major players suggests a shift from retail-driven speculation to more calculated institutional investment.
Market Trends and Future Outlook
Data from CryptoQuant shows a growing presence of "big whale orders" in spot activity near the $4,000 level, indicating that high-net-worth investors are actively re-entering the Ethereum market. This sustained accumulation, rather than leveraged trading, could reduce sell pressure from exchanges and pave the way for a stronger Q4 rally, especially with growing optimism around Ethereum ETFs. The current consolidation phase, marked by tight range trading, is reminiscent of previous accumulation periods that preceded significant price increases.
Sources
Ethereum (ETH) Prepares For ‘Last Euphoric Run’ As Whales Go On $135M Buying Spree — TradingView News, TradingView.
Ethereum whales add $135M in new inflows: Are whales loading up ETH?, AMBCrypto.