Ethereum continues to consolidate within a price range between $2,400 and $2,800. Recently, significant accumulation of ETH by whales worth $2.5 billion was recorded.
Current Price of Ethereum and Market Conditions
As of now, the price of Ethereum stands at $2,551.50, marking a modest gain of 0.56% for the day, despite experiencing a 4.79% decline over the past week. On a monthly basis, ETH has shown a 3.05% increase, although the broader trend remains under pressure with a 29.58% drop over six months and 23.36% year-to-date.
Progress in Staking and Reduced Liquid Supply
Ethereum has hit a major milestone in staking, with over 35.35 million ETH staked, representing about 29% of total circulating supply. This reinforces confidence in Ethereum’s proof-of-stake (PoS) infrastructure, reducing liquid supply and solidifying its role in the long-term evolution of decentralized finance.
Whale Accumulation and Institutional Interest
Recently, it was noted that whales accumulated over 818,000 ETH in a single day, amounting to $2.5 billion, marking the largest daily purchase since 2018. This surge in whale activity may indicate institutional accumulation and often precedes significant price increases. Moreover, BlackRock reportedly expanded its ETH exposure to over $4 billion.
Ethereum continues to demonstrate strong fundamental indicators despite short-term price fluctuations. With the growing interest in staking and institutional accumulation, investments in ETH may become a significant component of the future of decentralized finance.
