Ethereum Whales on the Move: Does Millions of Tokens Accumulate an Imminent Bull Run?
- Whale accumulation indicates possible ETH rally.
- Supply reduction could boost Ethereum’s value.
- Investors are betting on self-custody, reducing sales.
Ethereum (ETH), despite failing to live up to expectations during its recent bull run, has maintained its relevance in the cryptocurrency market. Currently trading at around $2.200, ETH has seen a year-on-year decline of 42%.
Recently, the crypto community has expressed some skepticism about Ethereum’s potential to replicate the gains seen by other cryptocurrencies. However, new developments point to a possible appreciation. Ali Martinez, a well-known X user, highlighted a significant movement of whales who acquired 1,1 million tokens in just 48 hours, asking:
“Do they know something we don’t?” The purchase of these tokens amounts to a staggering $2,4 billion, calculated based on current prices. This move could suggest a reduction in the circulating supply of ETH, potentially boosting its future value through scarcity.
Whales bought 1.10 million #Ethereum $ ETH in the last 48 hours! Do they know something we don't? pic.twitter.com/ucSTelerNC
— Ali (@ali_charts) March 6, 2025
Interestingly, whales had already intensified their buying in late February, during a period of sharp bearishness in the market. At that time, the price of ETH fell to $2.100, but soon after, it experienced a rapid recovery, briefly surpassing $2.500.
Another promising factor for Ethereum is the recent trend in net exchange inflows. According to CryptoQuant, this metric has been registering negative values in recent days, suggesting that more investors are preferring self-custody, which reduces selling pressure in the market.
