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Ether Sees Record Accumulation, New ATH Ahead?


by Parth Dubey
for Coinspeaker
Ether Sees Record Accumulation, New ATH Ahead?

Ether whales have been ramping up their Ethereum ETH $4 375 24h volatility: 1.5% Market cap: $527.59 B Vol. 24h: $32.16 B buying since the token dipped to yearly lows in April, according to crypto sentiment platform Santiment. During this time, the second-largest cryptocurrency surged by around 200%, currently trading at $4,366.

Santiment reveals that in the past five months, whale wallets holding between 1,000 and 100,000 ETH have collectively added 5.54 million coins, an increase of 14% to their holdings.

Fresh on-chain activity confirms this whale accumulation trend. Earlier on Sept. 4, Lookonchain reported that two newly created wallets withdrew $151 million in ETH from Binance to the lending protocol Aave. Such large-scale exits from exchanges often hint at long-term price confidence.

BitMine Accelerates ETH Accumulation

Institutional treasuries have also been playing a growing role in this surge. BitMine Immersion Tech recently acquired $65 million worth of Ether through Galaxy Digital, securing 14,665 ETH across six over-the-counter transactions.

While the company has not confirmed new purchases since late August, it is still working toward its goal of holding 5% of Ether’s total supply.

Currently, Ethereum treasuries hold $15.83 billion worth of ETH, equating to 2.97% of the circulating supply. Analysts say this gradual increase in corporate holdings is creating a strong floor for the asset.

Meanwhile, Ethereum ETFs attracted $3.87 billion in inflows in August, compared to Bitcoin ETFs, which saw $751 million in outflows.

The divergence has fueled Ether’s relative outperformance. Over the past month, while BTC slipped by 3.5%, ETH rallied nearly 19%, according to CoinMarketCap.

What’s Next for Ether Price?

Despite this massive fund inflow, Ether remains below its all-time high of $4,953 set on Aug. 25. Market watchers remain divided on the cryptocurrency’s next move.

Crypto analyst Cas Abbe pointed out that ETH price action is currently shaped by two distinct whale groups. Mega whales, holding more than 10,000 ETH, fueled August’s rally with over 2 million ETH in net buys but have since paused.

On the other hand, large whales with 1,000–10,000 ETH have reversed course from selling to accumulation, adding 400,000 ETH in the past month.

The analyst believes the return of mega whales could drive momentum toward a new all-time high. If not, Ether will still be the top crypto to buy as smaller whales may keep the rally alive, though at a slower pace.

The post Ether Sees Record Accumulation, New ATH Ahead? appeared first on Coinspeaker.

Read the article at Coinspeaker

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Ether Sees Record Accumulation, New ATH Ahead?


by Parth Dubey
for Coinspeaker
Ether Sees Record Accumulation, New ATH Ahead?

Ether whales have been ramping up their Ethereum ETH $4 375 24h volatility: 1.5% Market cap: $527.59 B Vol. 24h: $32.16 B buying since the token dipped to yearly lows in April, according to crypto sentiment platform Santiment. During this time, the second-largest cryptocurrency surged by around 200%, currently trading at $4,366.

Santiment reveals that in the past five months, whale wallets holding between 1,000 and 100,000 ETH have collectively added 5.54 million coins, an increase of 14% to their holdings.

Fresh on-chain activity confirms this whale accumulation trend. Earlier on Sept. 4, Lookonchain reported that two newly created wallets withdrew $151 million in ETH from Binance to the lending protocol Aave. Such large-scale exits from exchanges often hint at long-term price confidence.

BitMine Accelerates ETH Accumulation

Institutional treasuries have also been playing a growing role in this surge. BitMine Immersion Tech recently acquired $65 million worth of Ether through Galaxy Digital, securing 14,665 ETH across six over-the-counter transactions.

While the company has not confirmed new purchases since late August, it is still working toward its goal of holding 5% of Ether’s total supply.

Currently, Ethereum treasuries hold $15.83 billion worth of ETH, equating to 2.97% of the circulating supply. Analysts say this gradual increase in corporate holdings is creating a strong floor for the asset.

Meanwhile, Ethereum ETFs attracted $3.87 billion in inflows in August, compared to Bitcoin ETFs, which saw $751 million in outflows.

The divergence has fueled Ether’s relative outperformance. Over the past month, while BTC slipped by 3.5%, ETH rallied nearly 19%, according to CoinMarketCap.

What’s Next for Ether Price?

Despite this massive fund inflow, Ether remains below its all-time high of $4,953 set on Aug. 25. Market watchers remain divided on the cryptocurrency’s next move.

Crypto analyst Cas Abbe pointed out that ETH price action is currently shaped by two distinct whale groups. Mega whales, holding more than 10,000 ETH, fueled August’s rally with over 2 million ETH in net buys but have since paused.

On the other hand, large whales with 1,000–10,000 ETH have reversed course from selling to accumulation, adding 400,000 ETH in the past month.

The analyst believes the return of mega whales could drive momentum toward a new all-time high. If not, Ether will still be the top crypto to buy as smaller whales may keep the rally alive, though at a slower pace.

The post Ether Sees Record Accumulation, New ATH Ahead? appeared first on Coinspeaker.

Read the article at Coinspeaker

Read More

Ethereum Devs Are Underpaid by Over 50%: Report

Ethereum Devs Are Underpaid by Over 50%: Report

Despite Ethereum securing nearly $1T in value, many of its key contributors earn less...
Ethereum is ‘ready for $5K’, but THIS can drag ETH’s rally

Ethereum is ‘ready for $5K’, but THIS can drag ETH’s rally

Here's what you need to know about ETH's near-term outlook ahead of Fed rate decision