Ethereum Holdings Balloon To 30%

The past few months have seen Ethereum whales, the cryptocurrency world’s Goliaths, flexing their financial muscles. In response to a recent report by Santiment, on-chain data reveals a surge in whale activity, possibly fueled by the green light for spot Ethereum exchange-traded funds (ETFs) from the US Securities and Exchange Commission (SEC).

This heightened involvement from large investors adds a further layer of intrigue to Ethereum’s bullish momentum, suggesting growing confidence and anticipation inside the market.

A Whale Of A Time: Accumulation Anchors Ahead

The SEC’s surprise approval on May twenty third of 19b-4 forms for ETF applications from heavyweights like BlackRock and Fidelity stirred the cryptoverse nest. This long-awaited decision, following months of radio silence from regulators, seems to have been the harbinger of a buying spree for Ethereum’s biggest players.

Santiment’s report dives deep, revealing a virtually 30% increase in holdings by wallets containing no less than 10,000 ETH over the past 14 months. This translates to a staggering 21 million ETH, currently valued at a cool $83 billion, scooped up by these deep-pocketed investors.

With Ethereum even surpassing Bitcoin when it comes to percentage gains last month, it’s no surprise that the buildup party shows no signs of stopping.

Profit Feast Before The Essential Course?

The information suggests a recent uptick in whale transactions exceeding $100,000 and a whopping $1 million, reaching year-to-date highs after the ETF approval. This surge in activity may very well be interpreted as whales benefiting from the bullish sentiment to lock in some profits.

Source: Santiment

Nonetheless, Santiment suggests this is perhaps a strategic pit stop before diving back into the buying pool. So long as these “10K+ ETH wallets are still moving north,” the report argues, Ethereum’s price has the potential to proceed outperforming its greater brother, Bitcoin, even amidst market volatility.

Ether price motion within the last month. Source: Coingecko

Profitable Seas For Ethereum Sailors

The excellent news extends beyond whale activity. An evaluation by NewsBTC revealed a positive trend in every day Ethereum transactions. Measured over a seven-day moving average, the ratio of profitable transactions to those ending in a loss sits at a healthy 1.87. This means that for each losing trade, there are nearly two winning ones, suggesting a wave of optimism amongst Ethereum investors.

Ether market cap currently at $446 billion. Chart: TradingView.com

Ethereum Price Prediction

Meanwhile, the anticipated yearly low Ethereum price projection for 2025 is $ 3,716, based on the historical price patterns of Ethereum and the BTC halving phases. In response to predictions, Ethereum’s price could rise to $6,722 within the upcoming yr.