As ETH consolidates above the $3,700 mark, notable whale wallets are seen increasing their holdings. This trend reflects a growing interest in the asset by both institutional and private investors.
Recent Large ETH Purchases
In the past 24 hours, several notable ETH purchases were made by anonymous large investors creating new wallets. This indicates a genuine demand for tokens as ETH was trading around $3,711.34.
ETH Accumulation in Dedicated Wallets
Since May, over 7 million ETH have been accumulated in dedicated wallets that do not move their balances. The recent months have seen accelerated accumulation, potentially leading to a short-term supply squeeze as investors seek to secure their holdings in anticipation of increased institutional demand.
World Liberty Fi Continues ETH Accumulation
World Liberty Fi continues to actively accumulate ETH, adding 3,473 tokens valued at around $13 million. This accumulation is part of a multi-chain strategy, indicating plans to utilize ETH for building its own lending vault via Aave.
Overall, the current accumulation of ETH by large investors, including funds and anonymous holders, highlights a re-stabilization of interest in this asset. Heightened competition among stakeholders may also lead to increased market activity and potential price growth for the tokens in the future.
