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ETH Price- Ethereum Sees Largest Whale Inflows Since 2017
ETH Price– Ethereum (ETH) is showing signs of a robust comeback, with significant buying activity from large holders, known as whales. On June 12, wallets holding between 1,000 and 10,000 ETH added over 871,000 ETH in just one day, marking the largest single-day net inflow to these addresses since 2017, according to Glassnode.
Sustained Buying from Mid-Tier Whales
For six consecutive days, these mid-tier whales have accumulated more than 800,000 ETH daily—a level of sustained buying not seen since the last bull run in 2017. This accumulation pushed total holdings in these wallets above 14.3 million ETH, reversing earlier outflows and highlighting a strong resurgence in long-term confidence for Ethereum (ETH).
Institutional Confidence Rises
Institutional interest appears to be fueling this momentum. Reports show that BlackRock acquired $15.46 million worth of ETH through Coinbase Prime, a notable direct allocation amid a broader surge in whale activity. CryptoQuant data reveals that inflows into long-term holding addresses have reached all-time highs, coinciding with Ethereum’s price stabilizing above $2,500.
Price Holds Strong Support Levels
Ethereum (ETH) has demonstrated resilience around the $2,500 mark, holding steady near the 200-day and 50-day Exponential Moving Averages (EMA), which are serving as strong support levels. Despite minor dips, buyers have stepped back in, helping ETH rebound from intraday lows.
At the time of reporting, the Relative Strength Index (RSI) stood at 48.9, indicating a neutral technical stance with a slight bearish tilt. This suggests potential for upward movement if buying momentum continues.
What’s Next for Ethereum?
With both whale accumulation and growing institutional interest, Ethereum could target the $2,600 to $2,650 range, provided it maintains support above $2,500. As one analyst noted, “The current wave of accumulation points to renewed long-term confidence in Ethereum’s fundamentals.”
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
