According to data provided by analytics platform CryptoQuant, there has been a substantial uptick in Ethereum inflows to accumulator addresses.
Notably, the largest spike in inflows took place in June 2025. This massive increase dwarfed the activity from the previous year.
However, it should be noted that the ETH price has barely budged despite the massive accumulation spike.
This could potentially indicate that whales are accumulating tokens on the cusp of another price rally.
The accumulation spikes that took place earlier preceded price rallies, and this trend might continue this time around.
The popular altcoin is also benefiting from increasing corporate adoption with the emergence of SharpLink Gaming (Nasdaq: SBET).
As reported by U.Today, Consensys CEO Joseph Lubin recently predicted that there would be “amazing” accumulation in the flagship altcoin during an interview with Bloomberg.
Earlier this week, the Ethereum network also experienced a 130% spike in network fees due to higher smart contract usage stemming from growing institutional decentralized finance demand.
Yet, some early adopters are seemingly jumping ship despite the bullish catalysts. As reported by U.Today, an Ethereum whale from the initial coin offering (ICO) era recently made a massive $12 million ETH transfer to the Kraken exchange.
The price of the popular token remains mostly in limbo with a negligible 0.7% drop over the past seven days, according to CoinGecko data. The token’s market cap stands at $289 billion.
ETH is down 50% from the peak of $4,878 that was registered during the previous bull cycle.