Analyst: Whale Continues to Accumulate ETH, Potentially Fueling Further Price Surge

BlockBeats News, September 4th, according to Decrypt's report, as whales increased their accumulation efforts during the recent crypto market pullback, Ethereum is gradually turning bullish. Analysts state that with continued institutional inflows, ETH may further rise. Data from the on-chain analysis platform Santiment shows that whale addresses holding between 1,000 to 100,000 ETH have increased their holdings by 14% in the past five months.

Bitget analyst Ryan Lee stated, "Whales are reallocating their portfolios from Bitcoin (BTC) to Ethereum (ETH), driving Ethereum's upward momentum. At the same time, increasing interest in its ecosystem and the upcoming ETF provide support."

According to Artemis Data, the whales' concentrated accumulation is consistent with the $9.9 billion net inflow into the Ethereum network over the past three months, along with $6.7 billion in stablecoin inflows. The influx of investors and funds reflects the resilience of Ethereum's decentralized finance (DeFi).

Zilliqa CEO Alexander Zahnd stated, "Ethereum's role has once again strengthened, with activity noticeably flowing back from Layer 2 networks to the Mainnet, especially in the DeFi space. To me, Ethereum is the preferred blockchain for institutional use due to its maturity, security, and significant development team advantage."