Recent data indicates increased activity from major investors in Ethereum, with over 260,000 ETH accumulated in a single day. This comes amid rising trade volume and stable pricing for Ethereum.
Whale Activity
Ethereum whales have accumulated over 260,000 ETH in the last 24 hours. On-chain analytics by Santiment reveal that wallets holding between 10,000 and 100,000 ETH are increasing their positions, indicating growing confidence among large investors in the asset.
Increased Trade Volume
In addition to whale activity, Ethereum has seen a significant increase in trade volume. Data from CryptoQuant confirms that investors are reallocating capital from Bitcoin and other assets into Ethereum, particularly evident on major exchanges like Binance. This trend may bolster Ethereum's market position.
Price Stability
Ethereum's price is currently around $4,409, maintaining support at $4,230. Analysts like Ted Pillow are closely monitoring this zone as sustaining above it may help Ethereum maintain its bullish trend and potentially break above the $4,500 resistance level. However, falling below $4,230 could lead to a retracement toward $4,000.
The recent accumulation by major investors and the rising trade volume suggest positive sentiment towards Ethereum. Keeping an eye on key support and resistance levels will be crucial in assessing future price movements.
