Ethereum (ETH) has demonstrated a robust rise over the past week, climbing from around $4,300 to nearly $4,700. Despite some fluctuations, investor interest in the asset remains high.
Whales Actively Buy ETH
According to the latest data from Lookchain, a new wallet recently withdrew 5,297 ETH from Binance and Bitget, amounting to around $24.7 million. This action follows a similar move by another whale wallet, which secured an additional 13,322 ETH, equivalent to $61.65 million, from FalconX on September 15. These back-to-back transactions highlight the increasing demand from large investors for the altcoin.
Ethereum Growth Prospects
Sean Dawson, head of research at Derive.xyz, stated that Ethereum is poised for further gains even as it experienced minor dips at the start of the week. "While some are worried that 'the music is about to stop,' the reality is more nuanced. We may see volatility and consolidation in September, but the structural backdrop suggests there’s still substantial upside ahead."
Market Remains Optimistic
Despite short-term pressures, the overall outlook for Ethereum over the next three to four months remains highly optimistic. Some forecasts even suggest a target of $10,000 for this cycle.
Ethereum continues to show a confident rise, with whales actively accumulating the asset. However, market conditions remain volatile, and forecasts indicate optimism regarding the long-term outlook.
