ETH Whales Bet Big—Price Surge Incoming?

ETH Whales- Ethereum Upgrade Sparks Bullish On-Chain Signals

ETH Whales– Ethereum’s upcoming Pectra upgrade is stirring anticipation across the crypto market. Whale wallets, particularly those holding 1,000 to 10,000 ETH, are steadily growing in number despite price fluctuations. According to CryptoQuant, whale addresses have increased from 4,643 to 4,953 since December, even as ETH dipped below $2,000. These wallets now hold over 19 million ETH, marking a 22.5% rise since March.

This quiet accumulation signals deep conviction. As the market awaits Pectra’s launch, large holders appear ready to rotate their positions into realized gains if prices recover above their cost basis.

ETH holders aren’t budging. Instead, they’re accumulating more.

Real-World Dominance Sets the Stage

Ethereum isn’t just gaining on speculation—it leads in real-world asset adoption. With $6.5 billion in RWA total value locked (TVL), Ethereum outpaces competitors like ZKsync Era, which holds $2.2 billion. The on-chain fundamentals remain strong, even though ETH’s price continues to hover below $2,000.

The rising Estimated Leverage Ratio (ELR) shows traders are preparing for a potential breakout. However, exchange reserves spiked in April, suggesting caution among investors.

Can Pectra Be the Spark ETH Needs?

Despite Ethereum’s dominance in fundamentals, the price has yet to reflect the momentum. Analysts believe Pectra could be the trigger for a breakout—if it lives up to expectations.

Until Ethereum breaks above $2,000 with falling reserves, the bullish case remains unconfirmed. For now, all eyes are on the upgrade.

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.