Ethereum Whales Accumulate $850 Million in Just Two Days

Ethereum Whales Accumulate $850 Million in Just Two Days – Here’s What You Need to Know!

Ethereum's large holders, known as "whales," have significantly increased their investments over the past few days, adding $850 million to their holdings as the cryptocurrency's price stabilizes. Despite a lack of immediate price movement, the increasing accumulation suggests confidence in Ethereum's long-term potential.

Key Takeaways

Ethereum whales have added nearly 300,000 ETH (over $850 million) to their wallets recently.
The current price of ETH is around $2,940, showing stability below critical resistance levels.
Despite a lack of price movement and trader hesitation, strong on-chain activity indicates bullish long-term sentiment among large holders.

Ethereum [ETH]

Whales Add to Their Holdings as ETH Price Stabilizes

Since December 26, large holders of Ethereum (ETH) have been actively increasing their balances. Data from Santiment shows that the supply held by whales has climbed from approximately 100.48 million ETH to around 100.8 million ETH, totaling an increase of nearly 300,000 ETH. At the current price of about $2,940, this represents over $850 million flowing into large wallets in just a few days.

Ethereum Supply Increase

This sizable accumulation has occurred while ETH's price has remained relatively stable. Whales often seek to build exposure during low-volatility periods, signaling their confidence in Ethereum’s future potential rather than being swayed by short-term price corrections.

Ethereum’s Economic Activity Gains Strength

Activity in Ethereum’s Economy

Price Struggles Below Key Resistance Levels

On Ethereum’s daily chart, the price has been struggling to regain upward momentum after dipping below important moving averages (MAs). Currently, ETH is trading around $2,940, unable to break through the 50, 100, and 200-day exponential moving averages (EMAs) that provide resistance between $3,100 and $3,380.

Momentum indicators reveal a mix of trader sentiment; the Relative Strength Index (RSI) shows weak bullish strength, while the Moving Average Convergence Divergence (MACD) indicates that upward pressure is diminishing.

Ethereum Price Analysis

While sellers have not pushed for a significant drop in price, buyers are exhibiting caution. As it stands, ETH is in a phase of consolidation. A significant price movement may occur once trading volume picks up and momentum resumes.

Conclusion

Ethereum's current situation reflects a complex mix of whale accumulation and market hesitance. While the short-term outlook may seem uncertain, the commitment from large holders points toward a more optimistic long-term perspective for Ethereum.