Ethereum continues to trade at $3,749, showing resilience amid anticipation of the Fed's interest rate decision.
Current Ethereum Price and Market Conditions
Currently, Ethereum is trading at $3,749 after a recent spike to $3,941 recorded on July 28. This price movement is occurring amid a broader market decline ahead of the Federal Reserve's interest rate announcement.
Large Holder Accumulation Data
On-chain data indicates that large holders are continuing to accumulate Ethereum. According to Lookonchain, a wallet labeled 0x3dF3 received 12,000 ETH valued at $45 million. Since early July, nine new wallets have collectively acquired 640,646 ETH, currently valued at $2.43 billion.
Institutional Investments and Market Expectations
Institutional interest in Ethereum is also growing. BlackRock's Ethereum ETF, ETHA, has significantly increased its holdings and now controls over three million ETH. Since starting its purchasing process in July, the ETF has acquired 1.25 million ETH, valued at approximately $11.36 billion.
Ethereum maintains strong support and growing accumulation from whales and institutional investors. The market awaits further signals from the Fed, which could influence its next moves.
