Ethereum is experiencing a surge in whale activity, with wallets holding between 1,000 and 10,000 ETH doubling their holdings in just four months. This aggressive buying spree, the largest since the 2018 bear market bottom, has seen these mid-tier wallets add 818,410 ETH worth $2.5 billion. Notably, mega-whale wallets holding over 10,000 ETH have also increased to around 1,200 addresses, a level not seen since the 2021 bull run. This accumulation suggests that long-term investors and institutions are gearing up for a new phase of growth in the Ethereum market.
The trend of whale accumulation is further supported by the fact that Ethereum exchange reserves are at multi-year lows. This scarcity of available coins on exchanges, combined with the steady buying pressure from whales and institutions, has created a real supply shock in the market. This scenario is reminiscent of the 2018 cycle when Ethereum whales heavily accumulated at the market bottom, paving the way for ETH’s meteoric rise from $80 to $4,800. The current behavior of whales indicates a similar bullish outcome may be on the horizon.
Institutional interest in Ethereum is also on the rise, with Ethereum ETFs recording over $1 billion in net inflows. This growing institutional participation, coupled with whale buying, regulatory clarity, and Ethereum’s strong fundamentals, is setting the stage for major price discovery in the Ethereum market.
Currently priced around $4,410, Ethereum is just 9% below its all-time high. Analysts believe that if whale activity continues to follow the 2018 pattern, ETH could potentially surge into five-digit territory. Tom Lee, for instance, predicts that the price of Ethereum could range between $15,000 and $25,000 by 2025.
With whales and institutions accumulating Ethereum at a rapid pace, shrinking exchange reserves, and increasing demand, the market may be primed for an explosive rally akin to previous cycles. This bullish sentiment in the Ethereum market underscores the potential for significant price appreciation in the near future. Stay tuned for more updates on the latest trends in the crypto world!