The past few months have seen the Goliaths of the cryptocurrency world, the Ethereum whales, flex their financial muscle. According to a recent report from Santiment, on-chain data shows a surge in whale activity following the U.S. Securities and Exchange Commission’s (SEC) approval of a spot Ethereum exchange-traded fund (ETF).
This heightened participation from large investors adds additional excitement to Ethereum’s bullish momentum, suggesting growing confidence and expectations within the market.
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Whale of the Ages: An Anchor for Future Accumulation
The SEC’s surprise approval of Form 19b-4 for ETF applications from big names like BlackRock and Fidelity on May 23 rocked the cryptocurrency nest. This long-awaited decision, after months of radio silence from regulators, appears to have been a harbinger of a splashy purchase for Ethereum’s biggest player.
A report from Santiment shows that over the past 14 months, the holdings of wallets containing at least 10,000 ETH have increased by almost 30%. This translates to $83 billion in value for the 21 million ETH currently misappropriated by deep-pocketed investors.
With Ethereum outperforming Bitcoin in terms of returns over the past month, it’s no surprise that the accumulation party shows no signs of stopping.
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Data shows whale trading recently exceeded $100,000 and a whopping $1 million, the highest level of the year since the ETF was approved. This surge in activity could be interpreted as whales taking advantage of bullish sentiment to secure some profits.
But Santiment suggests this could be a strategic rest stop before jumping back into the buying pool. The report argues that Ethereum’s price is likely to continue to outperform its larger sibling, Bitcoin, even amid market volatility “as long as more than 10,000 ETH wallets are still moving north.”
Profitable Seas for Ethereum Sailors
The good news isn’t limited to whale activity. Analysis by NewsBTC shows a positive trend in daily Ethereum trading. Measured against a 7-day moving average, the ratio of profitable trades to losing trades remains at a healthy 1.87. This indicates that for every losing trade there are almost two winning trades, suggesting that optimism is prevalent among Ethereum investors.
Ethereum price prediction
Meanwhile, based on Ethereum’s historical price patterns and the BTC halving phase, the predicted lowest annual price for Ethereum in 2025 is $3,716. According to forecasts, the price of Ethereum could rise to $6,722 in the coming year.
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Current Ethereum price predictions for 2025 range from a low of $3,716 to a high of $6,722. If ETH hits its higher price target, the value of Ethereum could increase by 80% compared to its current value by 2025.
Ethereum has surged 100% over the past year, outpacing 50% of the top 100 crypto assets. Trading above its 200-day simple moving average, it shows bullish momentum, with 17 green days of support in the last 30 days, accounting for 57% of recent trading sessions.
This performance highlights Ethereum’s resilience and attractiveness to investors, supported by high liquidity and a negative annual inflation rate of -0.24%, indicating potential scarcity and appreciation in value.
Featured image from Klook, chart from TradingView