Whales Accumulate $1 Billion in ETH: Is Ethereum Heading to $4,000?

Ethereum Stays Steady as Whales Expand Their Holdings Ethereum (ETH) is trading around $3,279.1, while whales have recently added 330,000 ETH worth approximately $1 billion to their holdings. These purchases, combined with increasing network activity, suggest a potential rebound toward $4,000. Ethereum Shows Stability Amid Bitcoin’s Surge Despite Bitcoin reaching a new all-time high of $109,000 over the weekend, Ethereum has remained relatively steady. It is currently trading at $3,279.1, reflecting a slight decline of 0.87% from the daily high of $3,366.9. However, blockchain metrics indicate that Ethereum could be on the verge of a reversal and a return to higher price levels.

Network Activity Signals New Capital Inflows Data from Santiment reveals that the number of new wallets joining the Ethereum network has jumped to 180,000, doubling from previous months. This surge suggests fresh capital inflows as new investors show interest in ETH. Historically, similar increases in network activity have preceded significant price growth. For instance, in May 2024, when Ethereum dropped from $4,000 to $3,100, the subsequent price rally saw a 34% increase. If history repeats itself, Ethereum’s price could bottom out around current levels and begin a new upward trajectory.

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