Ethereum Whales Spend $188M, Eyeing $4,000 Price

On-chain data shows these large holders have been snapping up ETH , with over 51,450 tokens — worth a whopping $188 million — purchased in just two days.

This surge in whale activity hints at a possible rally, with some analysts eyeing a push past $3,700 or even $4,000 for ETH.

What’s the Big Deal About Whales?

Whales are the big-time players in the crypto world. They hold massive amounts of tokens, and their buying or selling decisions can rock the market. Recently, Ethereum’s whale netflow — the difference between coins bought and sold by these large holders — has jumped from 28,680 ETH on November 29 to 80,130 ETH today.

Ethereum whales accumulated 51,450 ETH worth $188 million in just two days, signaling strong bullish momentum and a potential breakout above the $4,000 mark. #Bitcoin #Crypto #Ethereum #Blockchain #Cryptocurrency #Altcoins #DeFi #NFT #CryptoNews #BTC #ETH

— RevenueBOT_en (@RevenueBOT_en) December 2, 2024

This positive netflow is a bullish signal, showing whales are buying more ETH than they’re selling. It’s like seeing the early signs of a storm brewing — but this time, it’s good news for Ethereum fans.

Retail Investors Joining the Party

It’s not just the whales diving in. Retail investors are also showing more interest in ETH, adding fuel to the fire. Data from CryptoQuant highlights a rise in the Coinbase Premium Index. This index tracks the price difference of ETH/USD on Coinbase and Binance. A positive reading means U.S. investors are buying ETH more than selling, a trend that’s gaining steam.

If this momentum continues, the increased demand from both whales and retail investors could send ETH’s price soaring even higher.

Ethereum Rally Gains Momentum: Funding Rates Signal Bullish Sentiment with Room for Growth

“This trend highlights increasing bullish momentum among investors and traders as #Ethereum ’s price surges.” – By ShayanBTC

Read more 👇 https://t.co/L4UW36pHA9 pic.twitter.com/NpUJDrIgUa

— CryptoQuant.com (@cryptoquant_com) November 28, 2024

Why Are Whales Buying Now?

Experts suggest the buying spree could be driven by optimism around Ethereum’s long-term potential. With ETH’s ecosystem continuing to grow and more people jumping into DeFi and NFTs, the cryptocurrency has plenty of room to run. Also, some whales are buying HBAR .

🚨 WHALES KEEP ACCUMULATING: $HBAR continues to be taken off exchanges as the SUPPLY SHOCK is starting to gain momentum.

There will soon be very little HBAR left to buy on exchanges, potentially causing a skyrocketing price appreciation due to demand outweighing supply. pic.twitter.com/nKjEbdaJtb

— Shawn (@oroogle) December 2, 2024

Some analysts believe ETH could climb past $3,700 soon and might even make a run toward $4,000 if demand stays strong. It’s not guaranteed, but the stars seem to be aligning for Ethereum right now.

Disclaimer

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