Ethereum Whales Are Quietly Accumulating—Is A Major Price Breakout Coming?

As Ethereum continues to trail behind Bitcoin’s ongoing recovery in price, it seems the second-largest cryptocurrency by market cap is experiencing some positive developments in the background. According to recent data from IntoTheBlock, large Ethereum holders, often called whales, have been actively accumulating Ethereum over the past month. Related Reading: Ethereum Could Target $3,400 Once It Breaks Above Bullish Pattern – Details The Quiet Accumulation Of ETH From Whales IntoTheBlock reported via its X account that Ethereum’s large holder net flow has increased notably over the past 30 days. Specifically, whale wallets, which hold more than 0.1% of Ethereum’s total supply, have recorded consistent net outflows, signaling “accumulation.” According to the data, net outflows were recorded on just three days in the last month, meaning these large holders were predominantly adding to their positions. In total, over 1.7 million ETH were accumulated during this period, with 175,000 ETH purchased in the last two days alone IntoTheBlock suggests that this strong accumulation behaviour from large holders typically indicates confidence in the asset’s long-term potential. Over the past 30 days, ETH whale wallets have been actively accumulating, with net outflows recorded on only three days.

Oct 17, 2024 - 12:00

Ethereum Whales Are Quietly Accumulating—Is A Major Price Breakout Coming?

As Ethereum continues to trail behind Bitcoin’s ongoing recovery in price, it seems the second-largest cryptocurrency by market cap is experiencing some positive developments in the background.

According to recent data from IntoTheBlock, large Ethereum holders, often called whales, have been actively accumulating Ethereum over the past month.

The Quiet Accumulation Of ETH From Whales

IntoTheBlock reported via its X account that Ethereum’s large holder net flow has increased notably over the past 30 days. Specifically, whale wallets, which hold more than 0.1% of Ethereum’s total supply, have recorded consistent net outflows, signaling “accumulation.” Ethereum large holders netflow.

According to the data, net outflows were recorded on just three days in the last month, meaning these large holders were predominantly adding to their positions.

In total, over 1.7 million ETH were accumulated during this period, with 175,000 ETH purchased in the last two days alone IntoTheBlock suggests that this strong accumulation behaviour from large holders typically indicates confidence in the asset’s long-term potential.