Ethereum continues to attract investor attention, particularly from large holders known as 'whales'. This article examines the latest purchases of Ether and analyst opinions.
Record ETH Purchases by Whales
On June 15, there was a surge in Ethereum accumulation as wallets holding between 1,000 and 10,000 ETH increased their holdings by 818,410 ETH, worth approximately $2.5 billion. This marks the highest daily inflow for this group in over six years.
Comparison to Past Period
At the time of accumulation, these wallets held over 16 million ETH, significantly up from 11.87 million ETH a year ago. This accumulation spike coincides with a rising interest from institutional investors in Ethereum, as evidenced by funds attracting $583 million in the week ending June 13.
Analyst Price Predictions for ETH
Analysts draw parallels between the current price movement of Ethereum and the period of 2016-2017. During that time, ETH also ranged between $10 and $20 after the DAO incident. In 2024-2025, ETH is predicted to target around $4,000, supported by current market dynamics.
The accumulation of Ethereum by whales and the growing interest from institutional investors lay the groundwork for potential price increases. It remains to be seen whether ETH can replicate the success of 2017 and how these developments will shape the cryptocurrency market.
