Ethereum Holdings Balloon To 30%

Kayode Adeyemi
4 Min Read

The past few months have seen Ethereum whales, the cryptocurrency world’s Goliaths, flexing their financial muscles. According to a recent report by Santiment, on-chain data reveals a surge in whale activity, possibly fueled by the green light for spot Ethereum exchange-traded funds (ETFs) from the US Securities and Exchange Commission (SEC).

This heightened involvement from large investors adds an additional layer of intrigue to Ethereum’s bullish momentum, suggesting growing confidence and anticipation within the market.

A Whale Of A Time: Accumulation Anchors Ahead

The SEC’s surprise approval on May 23rd of 19b-4 forms for ETF applications from heavyweights like BlackRock and Fidelity stirred the cryptoverse nest. This long-awaited decision, following months of radio silence from regulators, seems to have been the harbinger of a buying spree for Ethereum’s biggest players.

Santiment’s report dives deep, revealing a nearly 30% increase in holdings by wallets containing at least 10,000 ETH over the past 14 months. This translates to a staggering 21 million ETH, currently valued at a cool $83 billion, scooped up by these deep-pocketed investors.

With Ethereum even surpassing Bitcoin in terms of percentage gains last month, it’s no surprise that the accumulation party shows no signs of stopping.

Profit Feast Before The Main Course?

The data suggests a recent uptick in whale transactions exceeding $100,000 and a whopping $1 million, reaching year-to-date highs after the ETF approval. This surge in activity could be interpreted as whales taking advantage of the bullish sentiment to lock in some profits.

Source: Santiment

However, Santiment suggests this might be a strategic pit stop before diving back into the buying pool. As long as these “10K+ ETH wallets are still moving north,” the report argues, Ethereum’s price has the potential to continue outperforming its bigger brother, Bitcoin, even amidst market volatility.

Ether price action in the last month. Source: Coingecko

Profitable Seas For Ethereum Sailors

The good news extends beyond whale activity. An analysis by NewsBTC revealed a positive trend in daily Ethereum transactions. Measured over a seven-day moving average, the ratio of profitable transactions to those ending in a loss sits at a healthy 1.87. This indicates that for every losing trade, there are nearly two winning ones, suggesting a wave of optimism among Ethereum investors.

Ether market cap currently at $446 billion. Chart: TradingView.com

Ethereum Price Prediction

Meanwhile, the predicted yearly low Ethereum price projection for 2025 is $ 3,716, based on the historical price patterns of Ethereum and the BTC halving phases. According to predictions, Ethereum’s price could rise to $6,722 in the upcoming year.

At the moment, the price projection for Ethereum in 2025 ranges from $3,716 on the low end to $6,722 on the high side. If ETH hits the higher price objective, Ethereum’s value might increase by 80% by 2025 compared to its current value.

Source: CoinCodex

Ethereum has surged by 100% over the past year, outpacing 50% of the top 100 crypto assets. Trading above its 200-day simple moving average, it exhibits a bullish momentum, supported by 17 green days in the last 30, representing 57% of recent trading sessions.

This performance underscores Ethereum’s resilience and attractiveness to investors, bolstered by its high liquidity and negative yearly inflation rate of -0.24%, signaling potential scarcity and value appreciation.

Featured image from Klook, chart from TradingView

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