Ethereum holds balloon to 30%

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Over the past few months, Ethereum whales, the Goliaths of the cryptocurrency world, have been flexing their financial muscles. According to a recent report from Santiment, chain data shows a surge in whale activity, likely driven by the green featherlight for the spotted whale fishery. Funds listed on the Ethereum exchange (ETF) of the U.S. Securities and Exchange Commission (SEC).

This increased involvement from vast investors adds an additional layer of intrigue to Ethereum’s bullish momentum, suggesting growing confidence and expectations in the market.

Whale of time: storage anchors ahead

The SEC’s surprise May 23 approval of Forms 19b-4 for ETF applications from heavyweights like BlackRock and Fidelity have stirred the crypto nest. This long-awaited decision, made after months of radio silence from regulators, appears to be a harbinger of a buying frenzy among Ethereum’s biggest players.

The Santiment report dives into the details and reveals an almost 30% augment in wallets holding at least 10,000 ETH over the last 14 months. This translates to an astonishing 21 million ETH, currently valued at a cold $83 billion, acquired by these deep-pocketed investors.

With Ethereum even surpassing Bitcoin in terms of percentage gains last month, it’s no surprise that the accumulation party shows no signs of stopping.

A profit feast before the main course?

Data suggests recent whale trading growth has topped $100,000 and as much as $1 million, hitting a year-to-date high following ETF approval. This augment in activity can be interpreted as whales taking advantage of the bullish sentiment to lock in some profits.

source: Santiment

Santiment suggests, however, that this could be a strategic stop before returning to the buyer pool. As long as these “$10,000-plus ETH wallets continue to move north,” the report states, Ethereum’s price has the potential to continue to outperform its bigger brother, Bitcoin, even amid market volatility.

Ether price action over the last month. Source: Coingecko

Profitable seas for Ethereum sailors

The good news goes beyond whale activity. Analysis by NewsBTC revealed a positive trend in daily Ethereum transactions. Measured on a seven-day moving average, the ratio of winning trades to losing trades is a solid 1.87. This means that for every losing trade, there are almost two profitable ones, suggesting a wave of optimism among Ethereum investors.

The market capitalization of ethers is currently $446 billion. Chart:

Ethereum Price Forecast

Meanwhile, Ethereum’s projected yearly low price for 2025 is $3,716, based on Ethereum’s historical price patterns and BTC halving phases. According to Ethereum predictions the price could go up to $6,722 in the coming year.

Currently, the Ethereum price forecast for 2025 ranges from $3,716 on the low end to $6,722 on the high end. If ETH reaches a higher target price, Ethereum’s value could augment by 80% by 2025 from its current value.

Source: CoinCodex

Over the past year, Ethereum has grown by 100%, outperforming 50% of the top 100 crypto assets. Trading above its 200-day uncomplicated moving average shows bullish momentum, supported by 17 green days over the last 30 years, accounting for 57% of recent trading sessions.

These results highlight Ethereum’s resilience and attractiveness to investors, enhanced by its high liquidity and negative annual inflation rate of -0.24%, signaling potential scarcity and appreciation.

Featured image from Klook, chart from TradingView


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