According to Santiment, whale activity indicates a significant accumulation of ETH, which may influence its price.
Increase in ETH Reserves by Whales
Whales holding between 1,000 and 100,000 ETH have increased their reserves by 14% since reaching yearly lows in April. Currently, ETH is trading at $4,376, representing a 197.30% rise from its low of $1,472.
Different Strategies of Whales in the Market
Not all whales have timed the market well. For instance, a wallet spent $3.8 million to purchase 1,425 ETH after selling 2,522 ETH for $3.9 million in April when the token was priced around $1,570.
Price Growth Prospects for Ethereum
Analysts are forecasting further price increases for Ethereum, possibly reaching $12,000-$15,000 by year-end. Increased ETF inflows and rising ETH treasury holdings are among the key drivers of this optimism.
The analysis of Ethereum whales' activity shows significant accumulation, which may impact price dynamics. Future changes in investment strategies and the cryptocurrency market should be closely monitored.
