Ethereum Whales Accumulate 871,000 ETH in Single Day, Institutional Investors Follow

Ethereum has recently witnessed a significant divergence in trading behavior between large institutional investors and retail traders. Major asset managers, including BlackRock, have added substantial amounts of ETH to their portfolios, with BlackRock alone purchasing $15 million worth of ETH. Concurrently, retail investors have been exiting their positions, creating a stark contrast in market sentiment.

In addition to BlackRock's investment, another prominent investor acquired 15,000 ETH, valued at $37 million, and immediately staked the entire amount. This investor is known for previously making a $30 million profit on Ethereum and still holds $110 million in USDC, suggesting potential for further investments in ETH or related assets.

According to blockchain data from Glassnode, Ethereum wallets holding between 1,000 and 10,000 ETH added over 871,000 ETH on June 12, marking the highest single-day net inflow recorded this year. This surge in accumulation has pushed Ethereum’s whale wallet holdings to exceed 14.3 million ETH. These wallets have been increasing their ETH balances daily over the past week, with estimated daily accumulation near 800,000 ETH. This level of activity has not been observed since 2017, a period associated with significant price movements.

The total amount of staked ETH has crossed 35 million, with over 500,000 ETH added to staking contracts in the first two weeks of June. This trend indicates ongoing interest in long-term holding and network participation. The rise in staking has coincided with a surge in ETH accumulation by long-term wallets, with addresses having no history of selling now holding a total of 22.8 million ETH. This is the highest recorded amount in this category, according to on-chain data.

Despite recent price fluctuations, Ethereum was priced at $2,536.56 at press time, down 1.35% in 24 hours and 9.4% over the past week. Some analysts are closely monitoring the 50-week Exponential Moving Average (EMA) level, as historically, ETH price increases between 25% and 135% after breaking above this moving average. If this trend repeats, Ethereum could reach the $4,000 level in the coming sessions.

In summary, the recent activities of large institutional investors and the significant accumulation of ETH by whale wallets suggest a bullish outlook for Ethereum. The increasing staking and long-term holding by non-selling wallets further support this sentiment, indicating a potential surge in ETH's price in the near future.