In three days, Ethereum whales purchased 394,682 ETH valued at $1.37B, contributing to bullish energy during market fluctuations in a significant rebound.
In under three feverish days, various Ethereum whale wallets collected an unbelievable 394,682 ETH, which is approximately 1.37 billion dollars, demonstrating strong buying motivation among large holders despite the recent market volatility.
This accumulation increase shows the increasing trust in Ethereum as a good candidate to have a high price recovery, according to on-chain data of Lookonchain on X (previously Twitter).
Source – X
Interestingly, the biggest single customer paid back a previous Aave loan of 66,000 ETH and proceeded to purchase 257,543 ETH with an average cost of around 3480, which equates to 896 million of the total buys.
Other prominent purchasers are Bitmine, the 7 Siblings group, OTC traders, and new active wallets that increased their ETH holdings in the recent market changes.
Whale Moves Spark Bullish Outlook and Price Targets
This large mass of whales is an indication of a bullish accumulation of Ethereum. This view is supported by momentum indicators that have occurred after short liquidations and an increase in institutional interest.
At the time of press, the Ethereum price stood at approximately 3,421 and increased by 3.72 percent in the last 24 hours, indicating an upward trend.
According to market observers, Ethereum is on a promising path with a price prospect of the highs of 4,800 to a hopeful 10,000. With network scalability upgrades and increasing institutional adoption, there is a model giving 25-30% upside by the end of 2025.
The consolidation stage, which is enhanced by whale activity, is considered to be a prelude to a persistent rally.
The tightening of the ETH supply could be expedited with the participation of Bitmine, which has been recorded to make weekly purchases between $200 million and 300 million.
Analysts believe that these whale movements would be inherent indicators that might turn the market dynamics overnight and would introduce fresh price highs and institutional confidence.
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