Key Takeaways
- Major whale wallet acquired 10,000 ETH ($19.1M) recently after purchasing $52M worth two weeks earlier
- Large holder groups (10Kā100K ETH) accumulated 5.6 million ETH from mid-2025 onward
- ETH currently trades around $1,912, significantly beneath its realized price of approximately $2,450
- Ethereum spot ETFs registered $60.86M in net daily inflows, pushing total cumulative inflows beyond $11.3B
- Blockchain analysts at CryptoQuant indicate the bearish cycle appears to be reaching its concluding phase
Ethereum maintains its position above the $1,900 threshold as major market participants accumulate holdings while retail investors reduce exposure. Both on-chain metrics and exchange-traded fund activity indicate strengthening demand from institutional players and whales at present valuation levels.
Data from Lookonchain, a blockchain tracking platform, reveals that an over-the-counter whale executed another substantial purchase of 10,000 ETH valued at $19.1 million within 24 hours. This identical address had acquired 27,000 ETH ($52.03M) approximately fourteen days prior. Major purchasers frequently utilize OTC markets to execute large transactions without creating exchange-based price volatility.
Information compiled by CryptoQuant demonstrates that wallets holding 1Kā10K ETH decreased their combined holdings from 15.6 million ETH in January to approximately 12.9 million ETH. This redistributed supply has predominantly migrated to wallets with larger capacities.
Meanwhile, the cohort holding 10Kā100K ETH expanded their collective position by 5.6 million ETH since the middle of 2025, increasing from 14 million to 19.6 million ETH. Ultra-large wallets containing 100K+ ETH similarly recorded net accumulation of 1.8 million ETH during this timeframe.
“The largest holders are absorbing the supply that smaller wallets are releasing,” CryptoQuant wrote in its report.
Ethereum’s current market price hovers near $1,912, substantially under its realized price metric of roughly $2,450. CryptoQuant researchers observed that ETH established a bottom in the opening months of 2025 at comparable price levels when measured against its realized price range.
Institutional Demand Strengthens Through ETF Activity
U.S.-based spot Ethereum ETFs documented $60.86 million in net daily inflows, based on SoSoValue tracking data. Total cumulative net inflows have now surpassed the $11.3 billion threshold, demonstrating sustained institutional appetite.
Ethereum’s derivatives market open interest currently rests around $26 billion, per CoinGlass metrics. Trading volumes also maintain robust levels, indicating that market engagement has remained stable despite recent price fluctuations.
The Relative Strength Index registers approximately 56, signaling upward momentum while remaining outside overbought zones.
Technical Picture for ETH
Examining the daily timeframe, Ethereum maintains support above its 20-day EMA at $1,876 and 50-day EMA positioned at $1,855. The 100-day EMA at $1,926 represents the nearest resistance barrier.
Successfully clearing $1,926 would potentially establish a pathway toward $1,961, followed by $2,172. The 200-day moving average situated near $2,068 constitutes another critical threshold under trader observation.
Market analyst MichaĆ«l van de Poppe shared on X that the breakout is “a matter of time until this breakout happens” and projected ETH movement toward the $2,300ā$2,500 range.
CryptoQuant’s research team determined that accumulation patterns among major holders across ETH, BTC, and XRP indicate the bearish market phase is probably entering its terminal stage, while acknowledging that current valuations could accommodate one additional downward movement before a definitive bottom materializes.
Liquidation data from the preceding 24-hour period showed total forced closures of $15.14 million, with long position liquidations accounting for $8.55 million of that figure.
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