Ethereum Surges 0.369% as Whales Accumulate 1.4 Million ETH

Ethereum's latest price was $2526.21, up 0.369% in the last 24 hours. This price increase is indicative of the growing interest and confidence in the cryptocurrency, which has been bolstered by several recent developments. Major holders, known as whales, have been actively accumulating large amounts of ETH. According to analyst Crypto Rover, large Ethereum wallets added over 1.4 million ETH between mid-April and mid-May, increasing their holdings from 15.8 million to more than 17.2 million ETH. This accumulation period coincided with Ethereum’s price rally, allowing the token to break major resistance levels. The whales’ actions suggest informed confidence and a deep belief in Ethereum’s long-term value.

Technical analyst Ted Pillows highlighted the emergence of a golden cross on Ethereum’s 12-hour chart, where the 50-period moving average crossed above the 200-period moving average. This pattern is historically associated with sustained upward momentum and renewed investor interest. The crossover indicates increased buying pressure, reinforcing the idea that Ethereum’s uptrend is gaining strength. However, Pillows noted that Ethereum must hold above a certain level to keep the momentum intact. A drop below this level could weaken the bullish case.

Ethereum recorded $205 million in inflows last week, its highest weekly figure in 2025. This significant inflow reflects strategic positioning by institutional investors, who are warming back up to high-conviction altcoins. The boost in institutional interest is not just a fluke but the result of strategic planning, including the successful Pectra upgrade and the appointment of Tomasz Stańczak as co-executive director. These moves lay the foundation for Ethereum’s continued dominance as the go-to programmable blockchain.

Ethereum’s Realized Cap surged by $3.8 billion since the Pectra upgrade, breaking a three-month downtrend. This rise indicates fresh capital flowing back into Ethereum, reinforcing its long-term value picture. Additionally, the ETH supply on exchanges has plunged to a historic low of less than 4.9%, signaling increased investor confidence in holding rather than selling. Abraxas Capital resumed aggressive accumulation, adding 46,295 ETH worth $115.3 million recently, further validating the growing bullish sentiment in the market.

Vitalik Buterin, the co-founder of Ethereum, has called for a transition to stateless nodes to preserve decentralization in the network. He argues that the growing reliance on centralized RPC services undermines Ethereum’s foundational ethos of decentralization. Stateless nodes, which do not require storing the entire blockchain, aim to make running a node as accessible as using an app, thereby giving users more control and restoring Ethereum’s decentralized backbone. Meanwhile, Ethereum whales are increasing their stakes, suggesting strong conviction in the network’s long-term value.