Ethereum Welcomes 13 New Whales, Boosting Accumulation Activity

Ethereum Network Sees Surge of 13 New Whales, Signaling Strong Accumulation Activity

The Ethereum network has witnessed a significant increase in the number of new addresses, with 13 new whales (addresses holding more than 10,000 ETH) joining the network in the past 24 hours. This surge in new whales indicates strong accumulation activity, as reported by on-chain analyst @ali_charts based on Glassnode data.

Despite recent price concerns, Ethereum has seen unprecedented wallet growth, with a fresh batch of negative sentiment towards $ETH. However, the network's widespread usefulness and its position as the front-runner in decentralized finance (DeFi) solutions and staking offerings continue to pull in new users and developers.

Institutional interest in Ethereum remains high, as evidenced by the recent large inflows into Ethereum spot ETFs. From January 21 to January 24, Ethereum spot ETFs saw $139 million in inflows, with the BlackRock ETF (ETHA) being the major driver of that figure. These inflows demonstrate an inflating institutional confidence in Ethereum's long-term viability.

The Ethereum Foundation has also been active, executing another strategic sale of 100 ETH at an average price of $3,078.93, receiving 307,893 DAI in exchange. This transaction brings the foundation's total ETH sales for 2025 to 300 ETH. The foundation's recent sales suggest a disciplined approach that guarantees both the financial security of the foundation and continuing support for the growth and innovation of Ethereum.

Ethereum's capacity to draw fresh users, keep institutional interest alive, and maintain its reigning position in DeFi is a testament to its resilience and relevance in the changing crypto landscape. The network's swift wallet growth suggests that, notwithstanding price volatility in the near term, Ethereum has not only added to its installed base but has also reinforced its position as a foundational layer in the blockchain industry.

Looking ahead, Ethereum is sailing through a difficult market, but its long-term outlook remains very bullish. The network seems not only able but also eager to welcome new users, and it is doing a remarkably good job of persuading even large institutional players to buy in.