On-chain data from Arkham Intelligence indicates that whales are aggressively accumulating their Bitcoin and Ethereum reserves. Analyzing the accumulation on wallets shows significant interest from institutional players.
Major Ethereum Purchases
According to Arkham Intelligence, one whale received 12,000 ETH worth around $45.47 million from Galaxy Digital in the last two hours. The wallet now holds 112,972 ETH totaling approximately $426.7 million. Over the past week, it has also accumulated more than 100 ETH worth over $370 million.
Bitcoin and Ethereum Accumulation Merging
Arkham Intelligence also reported a low selling pressure risk ratio of 0.24 for Bitcoin, indicating reduced large-scale selling pressure. In the last two weeks, there has been strong buying interest in Bitcoin from institutional and whale investors. Anchorage Digital has acquired 10,141 BTC worth around $1.19 billion from multiple wallets over the past nine hours.
Future Predictions
Geoffrey Kendrick from Standard Chartered stated that corporate treasury firms are continuing to build their Ethereum reserves, potentially accumulating up to 10% of all circulating ETH in the coming months. Kendrick noted that if accumulation continues, ETH could surpass the $4,000 mark.
Accumulation analysis indicates that the interest of major investors in Bitcoin and Ethereum remains high despite recent price fluctuations. This could lead to an increase in the value of these major cryptocurrencies and further institutional adoption in the future.
