Ethereum Whales Are Quietly Accumulating—Is A Major Price Breakout Coming?
Ethereum is experiencing positive developments despite lagging behind Bitcoin in price recovery. Large holders, or whales, have been actively accumulating Ethereum, with net outflows recorded on only three days in the past month, indicating strong accumulation. Over 1.7 million ETH were accumulated, including 175,000 ETH in the last two days. This behavior suggests confidence in Ethereum's long-term potential. Ethereum's price has increased by approximately 5.9% over the past week, currently trading at $2,616, with daily trading volume rising from below $14 billion to over $18 billion. However, analyst CrediBULL expressed concerns about Ethereum's relative weakness against Bitcoin, noting its failure to clear local highs during recent rallies, suggesting potential ongoing struggles against Bitcoin in the short term.
