On-chain data shows the most massive Ethereum whales control most of the supply, with their holdings only continuing to grow. Ethereum Mega Whales Own More Than 57% Of All Tokens In Existence In a new post on X, the on-chain analytics firm Santiment has discussed how the ETH supply held by the different segments of […]
Ethereum is on the verge of reclaiming the $4,000 level as it inches closer to its all-time highs. The second-largest cryptocurrency by market cap has faced skepticism throughout this cycle, with some analysts predicting it would underperform compared to its previous bull runs. However, Ethereum has surprised doubters, steadily climbing in recent weeks despite market uncertainty. Related Reading: ONDO Exchange Inflows Grow – Volatility Ahead? Key on-chain metrics from Glassnode reveal an important trend that could fuel further price gains: Ethereum whales have been accumulating aggressively since late November. This signals growing confidence among major holders, who are positioning themselves for potential upside. Historically, whale accumulation has often preceded significant price moves, hinting at the possibility of a breakout in the near term. While the market remains divided on Ethereum’s trajectory, its ability to sustain upward momentum near the $4,000 mark will likely define its performance in the weeks ahead. Breaking above this critical resistance could open the door to new highs and further solidify ETH’s role as a leader in the ongoing bull cycle. Ethereum Mega-Whale Balances Grow Ethereum has experienced a steady, albeit modest, rally since November 5, but it seems the real fireworks for ETH are yet to ignite. As Bitcoin soars into price discovery and several altcoins outperform expectations, Ethereum investors are searching for clear signals of an impending bull run for the second-largest cryptocurrency. Key on-chain data shared by top analyst Ali Martinez on X provides intriguing insights into Ethereum’s current state. Martinez highlights that Ethereum whales—entities holding significant amounts of ETH—have been accumulating aggressively since the price broke above the $3,330 level. This accumulation trend suggests that smart money is positioning itself for what could be a massive upward move in the months ahead. Historically, whale accumulation has often been a precursor to strong price rallies, as these large investors tend to anticipate major market shifts before retail traders. However, the narrative isn’t entirely bullish. While whale accumulation may signal confidence, it also raises concerns about a potential bull trap. These large holders could quickly pivot, offloading their ETH for other assets if market conditions shift or if Bitcoin’s dominance suppresses altcoin growth. Such a move could catch smaller investors off guard, leading to sharp corrections. Related Reading: AAVE Dominates DeFi Lending – Metrics Reveal 45% Market Share For Ethereum, holding above critical levels like $3,800 while breaking key resistances could be the catalyst needed to spark a true bull run. Until then, ETH remains a watchlist favorite, balancing potential and uncertainty. Price Testing Crucial Resistance Ethereum (ETH) is trading at $3,950, struggling to break above the crucial $4,000 resistance level for several days. Despite this, the price remains resilient, signaling strong market support. Clearing this level is essential to confirm the continuation of the uptrend, as $4,000 represents a psychological barrier and a key resistance zone for the asset. If Ethereum fails to breach the $4,000 mark, a retrace toward lower demand zones around $3,500 could be expected. This level has served as strong support in recent weeks, providing a cushion during periods of increased selling pressure. A pullback to this area could allow for renewed buying momentum, setting the stage for another attempt to break higher. Related Reading: Dogecoin Will See New ATH Soon – Top Trader Sets $2 Target However, recent market dynamics suggest Ethereum may be poised for a significant move upward. Bitcoin’s surge into price discovery and growing optimism around altcoins have created a bullish environment. With whales continuing to accumulate ETH, as highlighted by on-chain data, market participants are increasingly confident in Ethereum’s ability to retest and surpass its all-time highs. Featured image from Dall-E, chart from TradingView
A new Ethereum whale recently bought 18,000 ETH. Is it a sign that ETH’s rally will continue?
On-chain data shows metrics related to network activity have spiked for Ethereum recently, something that could pave way for a further rally. Ethereum Transaction Volume & Whale Transfer Count Have Spiked Recently According to data from the on-chain analytics firm Santiment, Ethereum has seen an uplift in two activity-related metrics. The indicators in question are the Transaction Volume and the Whale Transaction Count. The first of these, the “Transaction Volume,” keeps track of the total amount of the cryptocurrency (in USD) that users on the ETH network are shifting across the network with their transactions. Related Reading: Dogecoin To As High As $23? This Pattern Could Hint So When the value of this metric is high, it means the ETH blockchain is processing the transfer of a large number of coins right now. Such a trend suggests the investors actively invest in asset trading. On the other hand, the low indicator implies the interest in the cryptocurrency may currently be low as the holders are only moving around a low amount of ETH. Now, here is a chart that shows the trend in the Transaction Volume for Ethereum over the last few months: As displayed in the above graph, the Ethereum Transaction Volume has registered a sharp surge recently, implying interest in the asset has increased alongside the price rally. This could be considered a constructive development for the cryptocurrency, as an increasing network activity is generally required for rallies to be sustainable. In the past, some price moves have kicked off sharply, but the Transaction Volume didn’t register much of an increase at the same time. Such moves generally died out before long. The chart also contains the data for the other metric of relevance here, the “Whale Transaction Count.” This indicator measures the total amount of ETH transfers valued at more than $100,000. Transactions of this scale are assumed to be coming from the whale entities, so the Whale Transaction Count reflects the activity level of the big-money investors. From the graph, it’s apparent that this indicator has also spiked for Ethereum recently, which implies that the recent increase in the volume isn’t just a sign of interest from the smaller investors but also the humongous hands. Naturally, it’s impossible to say based off these indicators alone, whether the investors are buying or selling, as all types of transactions look the same from their view. Because ETH has seen a sharp rally recently, this activity has probably been for accumulation so far. Related Reading: Bitcoin Holder Profits Now 121%: How Much Higher Can BTC Go? The analytics firm explains, Expect any growth from Bitcoin, during this bull run, to see profits redistribute into Ethereum and potentially push it toward its own all-time high while its network activity looks very healthy. ETH Price After observing a surge of more than 27% over the last seven days, Ethereum has broken beyond the $3,150 level. Featured image from Dall-E, Santiment.net, chart from TradingView.com
Ethereum has reached a new local high at $3,219, marking an impressive 35% surge since last Monday. This rapid rise has ignited strong optimism among analysts and investors, who now see Ethereum as primed for further gains as it begins to show strength against Bitcoin. The rally reflects renewed confidence in ETH’s potential, especially as major stakeholders increase their activity. Related Reading: Cardano Skyrockets Over 40% – Funding Rate Suggests Further Upside Key data from Santiment supports this bullish outlook, highlighting a significant spike in whale transactions. Increased activity among large ETH holders often signals accumulation, suggesting that influential players see the potential for Ethereum’s continued growth. This uptick in whale transactions is typically seen as a precursor to further price appreciation, as it indicates sustained interest from high-volume investors. As ETH continues to rise, analysts are closely watching its performance against Bitcoin, noting that Ethereum’s recent momentum could indicate the beginning of a more sustained uptrend. Ethereum Bull Phase Starting Ethereum has officially entered a bullish phase after decisively breaking key resistance levels and establishing a positive price structure. Recent data from Santiment confirms this upward trend, as Ethereum is now showing strong growth metrics that suggest further gains may lie ahead. Whale transaction data points to a significant increase in activity from major stakeholders—wallets holding substantial amounts of ETH—who have actively contributed to Ethereum reaching its highest price in over 14 weeks. In addition to heightened whale activity, Ethereum’s transaction volume has surged, reaching as much as $10.4 billion over the past several days. This volume spike is an encouraging sign of rising demand and sustained interest in ETH at its current levels. Large transactions often signal confidence from institutional players and high-net-worth investors, reinforcing the bullish sentiment around Ethereum as they increase their holdings. Related Reading: Chainlink Hits $13.5 For The First Time Since July – Smart Money Accumulation? Santiment analysts suggest that Bitcoin’s performance during this bull run could serve as a catalyst for Ethereum, with profits likely redistributing from BTC to ETH as market participants diversify into top altcoins. This dynamic has historically benefited Ethereum during strong market cycles, potentially setting the stage for ETH to revisit its previous all-time high. Additionally, Ethereum’s network activity appears robust, another key indicator of sustained growth potential. With increased stakeholder participation, high transaction volume, and a healthy network, Ethereum seems well-positioned for continued upward momentum in the current bullish environment. ETH Testing Fresh Supply Ethereum (ETH) is currently trading at $3,170, showing strength after an aggressive move above the 200-day moving average (MA) at $2,955. This breakout above a long-term resistance level signals that bulls are now firmly in control as ETH reaches new supply zones. Holding above the 200-day MA is a positive indicator for sustaining the bullish trend, as this level often supports price action when breached on an upward move. If ETH experiences a pullback, a drop back to the 200-day MA around $2,955 would represent a healthy retracement, potentially setting the stage for further gains. A consolidation at or near this level would likely attract more demand, supporting a continuation of the uptrend. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH – Time To Buy Altcoins? However, the current strong price action combined with fresh demand entering the market could propel Ethereum even higher without a significant pullback. The momentum ETH is building now may help it break through successive supply levels in the near term, pushing toward higher targets. For now, Ethereum’s upward trajectory is supported by solid technical levels and a market environment increasingly favorable for continued gains. Featured image from Dall-E, chart from TradingView
On-chain data shows exchanges have recently observed a large amount of Ethereum exit their wallets, a sign that could be bullish for ETH’s value. Ethereum Exchange Reserve Has Seen A Plunge Recently As explained by analyst Ali Martinez in a new post on X, the ETH investors have made net outflows from exchanges recently. The on-chain indicator of relevance here is the “Exchange Reserve,” which keeps track of the total amount of Ethereum sitting on the wallets associated with all centralized exchanges. When the value of this metric goes up, investors will make net inflows into these platforms right now. As one of the main reasons holders deposit their coins in exchanges is for selling-related purposes, this trend can have bearish implications for the asset’s price. Related Reading: “Time To Get Ready For Another Bull Run,” Bitcoin Analyst Says— Here’s Why On the other hand, the indicator registering a decline suggests a net amount of ETH is currently exiting the exchanges. Such a trend can indicate that the investors are accumulating, which can naturally prove to be bullish for the cryptocurrency. Now, here is a chart that shows the trend in the Ethereum Exchange Reserve over the last few weeks: As displayed in the above graph, the Ethereum Exchange Reserve has registered a huge drop during the last few days, which implies that investors have made large net withdrawals. The holders have taken out more than 300,000 ETH from these platforms during the past week, which is worth almost $754 million at the current exchange rate. Given the massive scale involved here, it’s likely that the whale entities were behind the outflows. Also, considering that the withdrawals have come after ETH’s stumble from its $2,700 high earlier in the month, these humongous investors may have made them buy at the lows. Related Reading: Bitcoin Bull Run Not Over Yet? This Ratio Has Just Seen A Golden Cross Naturally, if this is true, Ethereum could benefit from a rebound from this plunge in the Exchange Reserve. The surge may also have begun, as ETH has now recovered above the $2,500 mark. In some other news, as market intelligence platform IntoTheBlock has pointed out in an X post, the Ethereum Market Value to Realized Value (MVRV) Ratio is sitting at 1.2 right now. The MVRV Ratio tells us how the value that Ethereum investors are currently holding compares against the amount that they initially put into the cryptocurrency. The latest value of 1.2 suggests the average ETH holder is currently holding a profit. From the chart, it’s apparent that the asset has historically encountered tops when the MVRV Ratio has been at notably higher values, so it’s possible that the current profitability isn’t high enough for ETH to top out. ETH Price At the time of writing, Ethereum is trading at around $2,500, down 6% over the last seven days. Featured image from Dall-E, CryptoQuant.com, charts from TradingView.com
On-chain data shows the Ethereum Whales have continued to accumulate more cryptocurrency as their supply share has risen. Ethereum Whales Now Hold Around 43% Of The Entire Supply In a new post on X, the market intelligence platform IntoTheBlock shared an update on how the Ethereum supply concentration has been looking for the major holder […]
Ethereum whales are on the move once again, with thousands of ETH being transferred at a rapid pace in the past few days. One of the latest ETH whale transfers spotted recently was carried out by the project’s co-founder Vitalik Buterin, triggering speculations about the digital asset’s potential in the long term. Another Huge Ethereum […]
On-chain data shows the Ethereum whales have recently gone on a significant accumulation spree, a sign that could be bullish for ETH’s price. Ethereum Whales Have Added 200,000 ETH To Their Holdings Recently As explained by analyst Ali Martinez in a new post on X, the ETH whales have gone on a buying spree recently. […]
Ethereum is pushing higher, as shown in the daily chart. After last week’s dip and recovery, the second most valuable coin is up nearly 25% from August lows. If buyers take charge today, clearing and closing above $2,600, as is currently the case, it could anchor the base of another uptick toward $3,300 in a […]
Ethereum whales also known as major investors are gradually returning to the market following recent positive developments around ETH, which demonstrates renewed optimism among institutional and retail investors around the crypto asset. Current data shows that the whales have amassed 426,000 ETH in light of rising excitement over the introduction of spot Ethereum Exchange-Traded Funds […]
A quant has pointed out how the trends in the BitMEX exchange reserve have affected the Ethereum price during the past few years. BitMEX Ethereum Whales Have Shown Smart Money Behavior In Recent Years In a CryptoQuant Quicktake post, an analyst discussed a pattern in the ETH exchange reserve of the BitMEX platform. The “exchange reserve” here refers to an on-chain metric that keeps track of the total amount of Ethereum that’s sitting in the wallets of any given centralized exchange. When the value of this metric rises, investors will make net deposits to the platform right now. As one of the main reasons investors transfer to exchanges is for selling purposes, this trend can have potential bearish implications for the asset’s price. On the other hand, a decline in the indicator suggests a net amount of the cryptocurrency’s supply is moving off the wallets associated with the exchange. Investors generally take their coins off into self-custody when they plan to hold for extended periods, so such a trend could be bullish for the coin. Related Reading: This Historical Ethereum Top Signal Is Yet To Appear This Cycle Now, here is a chart that shows the trend in the Ethereum exchange reserve for BitMEX over the last few years: As is visible in the above graph, the Ethereum exchange reserve on the BitMEX platform observed a sharp increase back in mid-2022. This would suggest that the investors had made some hefty net deposits into the exchange. According to the quant, the platform houses a significant number of whales, so this large inflow activity would reflect the behavior of these humongous investors. Interestingly, the rapid growth in the indicator had come right before ETH had crashed towards its bear market lows. Thus, it would appear possible that these large holders had anticipated that things were about to get worse for the asset, so they had pulled the trigger on selling while they still had the chance. Another notable shift in the exchange reserve of BitMEX occurred in September 2023, when the whales took out a huge amount of Ethereum, almost completely retracing the earlier bear market increase. From the chart, it’s apparent that soon after these net outflows occurred, the cryptocurrency’s price started on a sharp rally that would eventually take it above the $4,000 level for the first time since December 2021. Related Reading: Shiba Inu, Solana, & Cardano Are All Seeing Buy Signal: Analyst It would appear that these smart money whales were again correct in their intuition about the market, as they could time their buys just in time for the rally. Since these net outflows in September, the indicator hasn’t displayed any significant shifts, as its value has been moving sideways. Given the historical trend, any new deviations that crop up could be worth watching out for, as they could potentially spell another shift for Ethereum. ETH Price Ethereum showed a recovery push from its lows yesterday, but the run has calmed down as ETH is still trading around $3,400 today. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
On-chain data shows that the Ethereum exchange netflow recently spiked significantly, a sign that could be bearish for the cryptocurrency’s price. Ethereum Exchange Netflow Registered A Large Positive Spike Recently In a new post on X, the market intelligence platform IntoTheBlock has discussed about the latest trend that has been occurring in the exchange netflow metric for Ethereum. The “exchange netflow” here refers to an on-chain indicator that tracks the net amount of any given cryptocurrency entering into or exiting the wallets associated with centralized exchanges. Related Reading: Injective (INJ) Buy Signal That Led To 700% & 555% Rallies Forms Again When this metric’s value is positive, it means that investors are depositing a net number of tokens on these platforms right now. Generally, one of the main reasons holders may transfer to the exchanges is for selling-related purposes, so this trend can have bearish implications for the asset’s price. On the other hand, the negative indicator implies the exchanges are currently bleeding supply as outflows are outpacing the inflows. Such a trend may be a sign that the investors are accumulating, which can naturally be bullish for the coin. Now, here is a chart that shows the trend in the Ethereum exchange netflow since the start of the year 2024: The graph shows that the Ethereum exchange netflow has registered a positive spike recently. At the height of this spike, the exchanges received 140,660 ETH in net deposits. At the current price of the cryptocurrency, this amount is equivalent to almost $547 million. This is a huge amount and the largest net deposit spree these central entities have witnessed since January. “High inflows to exchanges are typically a sign of selling behavior, as people either try to claim profits or succumb to FUD,” notes the analytics firm. Interestingly, though, since these deposits have come, the asset’s price has increased. This could suggest that either the whales making the inflows haven’t pulled the trigger on selling these coins yet, or they never planned to sell to begin with. Of course, it’s also possible that the market demand has been able to absorb the selling if the whales have indeed sold. In the scenario where the whales made the deposits with the intention of selling but haven’t made the trade yet, Ethereum could feel a bearish effect. Related Reading: Altcoin Season Soon? Quant Says This Ethereum Pattern Could Suggest So It now remains to be seen how the cryptocurrency’s price will develop in the coming days and if these large deposits will play any visible role at all. ETH Price Ethereum had seen a pullback earlier, but the asset has managed to make a recovery, as its price is now once again floating above the $3,900 mark. Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com