Key Points:
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Ethereum giant whale increased its stake by 9.31%, stronger than before the 2022 rally.
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ETH merges internally at the Bulls level, and by August, the breakout could target $3,400.
Ethereum wallet holds at least 10,000 ether (eth) Increase accumulation faster than before 95% of the gatherings in mid-2022.
Ether Whale retracts its most supply since 2020
As of July 7, the total number of ETH held by these “giant whales” have recovered from 37.56 million ETH to 41.06 million ETH, a record in October 2024. Glass Festival data.
This marks a 9.31% increase, almost twice the rate of accumulation between May and September 2022, while ETH Price rose from about $1,000 to more than $1,950, a 95% increase.
Between November 2020 and January 2021, whale holdings increased by 4%, with ETH rising from $460 to $1,220, a trend showing a similar trend.
Big holder Begin to accumulate In both cases, the broader market is in trouble. ETH price action has remained relatively flat in recent weeks, suggesting that the current accumulation phase is still flying under radar.
If past patterns come into play again, this silent accumulation could be a pioneer in major upside movements that have not yet been priced.
The ether of giant whales continues to rise and Increase investment funds flowing into Ethereumincluding ETFs. Since the long-term downward trend of the metric system began in June 2020, supply recovery has also been the strongest and most lasting.
Bull tenant target 30% ETH price rises
Ether also trades in the textbook Bull thept mode on the daily chart. This setting usually indicates a continuation of movement, usually resolved by a breakthrough in the previous trend direction.
Related: Bitmine raises $250 million to launch Ethereum’s Treasury Department
Interestingly, failed breakthroughs and failed collapses occur within the structure, indicating a strong merger.
A decisive move to above the pennant’s upper boundary could push ETH to $3,400 in August. Some indicators even see Price up to $5,000 By the end of the year.
According to reports Glass Festival data.
More than 3.45 million ETH has its cost base in this range and uses it as a key support level.
Such a strong long-term holder approaches $2500, which reinforces the idea that ether’s current merger stage forms a solid foundation for the next leg.
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
