Ethereum (ETH) shows positive market trends, demonstrating increased interest from institutional investors and large players.
General Data on Ethereum
Currently, Ethereum is trading at $2,729 with a 3.80% gain in the last 24 hours. The price fluctuated between $2,611 and $2,785 during this period, indicating a high level of market activity. Ethereum's market capitalization stands at $328.12 billion, with a daily trading volume of $26.91 billion, a 22.56% increase.
Record Futures Interest and ETF Inflows
According to CoinGlass, open interest for Ethereum futures reached a record $35.69 billion in May. This reflects a high level of borrowing and expectations for price increases. Institutional flows have further strengthened Ethereum's position, with $402 million in inflows reported for US spot Ethereum ETFs in the past month, indicating growing interest from large funds.
Whale Accumulation of ETH
CryptoQuant data shows that large holders of Ethereum have increased their stocks by 1 million ETH, raising their balances from 16.4 million to 17.4 million ETH. Key purchases came from gaming companies that began accumulating tokens on May 8, amid a 51% price increase for Ethereum over the month. However, technical indicators suggest a potential slowdown in current growth.
The Ethereum market demonstrates sustained growth, attracting interest from both individual and institutional investors. However, the current situation requires careful analysis to understand how developments will unfold in the near future.
