Ethereum Whales Intensify ETH Accumulation

• Whale “kamisatoayaka.eth” acquires 5.000 ETH for $19,6 million.
• Justin Sun transfers 20.000 ETH to HTX exchange.
• ETH’s 7-day MVRV signals market optimism.

An Ethereum whale known as “kamisatoayaka.eth” has expressed strong optimism about Ether (ETH), the largest altcoin by market cap. According to recent reports, the whale used the Spark protocol to deposit ETH tokens and borrow against stablecoins. These funds were then used to acquire more Ethereum, accumulating 5.000 ETH worth $19,6 million in a single transaction, with an average price per token of $3.920.

🚨 🚨 8,968 #ETH (35,110,392 USD) transferred from unknown wallet to #Coinbase https://t.co/Sr3J3nImkR

- Whale Alert (@whale_alert) December 5, 2024

The movement of large investors, or “whales,” into the Ethereum market has been gaining prominence as the asset surpasses $3.800, approaching the critical $4.000 level. Justin Sun, founder of Tron, also contributed to this trend by transferring 20.000 ETH, valued at more than $76 million, to the HTX exchange. Data from the Spot On Chain platform reveals that, since the beginning of Ethereum’s recovery in November, Sun has deposited a total of 41.630 ETH into centralized exchanges, with an estimated average cost of $3.505 per token.

Ethereum remains down 19% from its all-time high, but indicators suggest bullish sentiment in the market. One of the main factors is the increase in 7-day MVRV (Market Value to Realized Value), which rose to 6,1%, signaling unrealized profits among short-term investors. In the past, similar values ​​have been accompanied by corrections, but the history also indicates room for further gains before significant declines.

Accumulation by large investors is another sign of confidence. The number of wallets holding at least 1.000 ETH, which hit a three-month low in October, has started to grow again, reaching 5.599 addresses in November. This increase reinforces the idea that whales are returning to the market, strengthening the prospect of appreciation for the asset.

At the time of publication, the price of Ethereum was quoted at US$3.916,34, up 2.3% in the last 24 hours.

ETH may face resistance upon reaching the $4.000 level, but sustained demand and institutional interest could propel it to new highs.