Ethereum, the second-largest cryptocurrency by market capitalization, has been enjoying a crazy couple of weeks. Amidst ETF outflows and retail investors taking profits, a contrasting trend has emerged: Ethereum whales are on an accumulation spree. This gap in practice raises critical issues. What will that mean for the future price of ETH, and for the broader market? BlockOpulent.com is where we’re going to break down this crazy tango, break down the data, and bring you insights with a bit of that BlockOpulent edge.
Whale Accumulation Amidst ETF Outflows
June 13 marked the first day US Spot Ethereum ETFs incurred a net outflow (-$2.18 million), snapping a 19-day inflow streak. At the same time, Ethereum’s top addresses have been busy scooping up an ever-greater share of assets. In the last 30 days, whale and shark wallets (accounts of between 1,000 and 100,000 ETH) have been active. Together, they added to their holdings by an impressive 1.49 million coins. As a whole, they’ve managed to grow their combined ETH treasury by 3.72%. As a result, they currently own about 27% of the circulating supply.
Whales have been massively accumulating Ethereum, signaling their bullishness and strong belief in Ethereum’s long-term potential. At the same time, retail investors look to be oriented on short-term focused profit-taking. The end of the ETF inflow streak potentially marks a stabilization of that initial accumulation phase. On the ground, investors are continuously shoring up their exposure to flex with the new normal advancing the market landscape. Regardless, the whales’ actions are a good indicator of their confidence in the long-term future of ETH, among other things.
Among all cryptocurrencies, Ether (ETH) has shown the strongest resilience. On June 14, it bounced in a small range of $2,499-2,580 and settled at about $2,519 following a solid late-day comeback. The price was hit by an extreme shakeout, dropping from $2,800 to under $2,500. The price is trying to hold above the important $2,500 support level. Bulls need to hold this support in order to sustain the rally and make a run for $3,000 and higher.
Decoding the Bullish Signals
There are a few reasons that we think might be behind this bullish sentiment from Ethereum whales. These include:
- Long-Term Growth Potential: Whales are likely looking beyond short-term market fluctuations and focusing on Ethereum's long-term growth potential.
- Institutional Interest: Increasing interest from institutional investors in Ethereum.
- Technological Upgrades: Ethereum's ongoing technological upgrades such as the Merge and future scaling solutions may be instilling confidence in its future value.
According to on-chain data, similar accumulation movements by Ethereum’s large holders have resulted in bullish scenarios in the past. On-chain metrics confirm the slowdown with exchange inflows, indicating that astute investors are continuing to HODL their ETH. The dominant force behind this accumulation of whales is this trend. Deposits to stake on Ethereum are skyrocketing. This significant growth shows that investors are bullish about the long-term, as they stake their ETH and prepare to earn rewards.
On-Chain Data Breakdown
On-chain data provides further insights into the behavior of Ethereum whales:
- Increasing Large Transaction Volumes: There has been an increase in large transactions (>$100,000) on the Ethereum blockchain, indicating that whales are actively buying and selling.
- Growing Staking Deposits: Staking deposits on Ethereum have continued to grow, suggesting a long-term bullish outlook from investors.
- Decreasing Exchange Inflows: Despite retail profit-taking, inflows of ETH to exchanges have decreased, indicating that investors are holding onto their assets.
Expert Opinions and Price Predictions
Here’s what some experts are saying about Ethereum’s long-term prospects. Changelly estimates that Ethereum could reach $5,800 by 2025. By 2026, it might even reach about $11,000, driven by continued scaling and sustained adoption, especially as the protocols mature and earn user trust. DigitalCoinPrice Ethereum price prediction has the industry-leading alt-coin will skyrocket past $6,900 within a year’s time. On the low end, they estimate around $6,839 with a thrilling high end of almost $8,380 by 2026. Given Ethereum’s continued development and application, these bullish projections indicate strong upside potential over the next few years.
What This Means for the Future of ETH
The diverging trend of Ethereum whales vs retail investors paints a confusing picture. Consequently, short-term market volatility or hawkish shakeouts from ETF outflows could trigger brief price pullbacks. Nonetheless, the accumulation by whales is a clear sign that they are banking on Ethereum’s long-term value.
- 2026 Price Range: Ethereum is expected to trade between $2,500 and $8,900 in 2026, facilitated by continued technological upgrades, increased institutional investment, and broader adoption.
- Long-term Projections: By 2033, Ethereum's price is expected to reach a minimum of $64,164.50 and a maximum of $76,047.50, with long-term projections reaching as high as $291,141 by 2050.
The gathering tide holds great potential. Along with positive on-chain data and bullish price predictions, Ethereum seems primed for big things in the near future. Despite crypto’s claims, all crypto investments are inherently speculative and often risky. You may lose part or all of your investment, so please speak with a financial professional before investing.
The whales are placing their bets – are you going to get caught in the wake?
