Ethereum Whales Accumulate as Institutions Buy $420M in ETH

Ethereum's price outlook has been a subject of interest in recent weeks, with market participants speculating on the potential impact of institutional demand on the cryptocurrency's value. This article will summarize the key developments and analysis related to Ethereum's price outlook and institutional demand.

Ethereum whale activity has been on the rise, with the number of addresses holding over 10,000 ETH increasing by 2.30% since February 1. This surge in whale accumulation could signal growing bullish sentiment, as large holders continue to stockpile the cryptocurrency. At the time of writing, ETH traded at $2,712.49, reflecting a 3.14% increase over the last 24 hours.

Institutional demand for Ethereum has been growing, with U.S. spot Ethereum ETFs acquiring 146,540 ETH, worth $420.2 million, this week. This substantial purchase signals a clear rise in institutional interest and a growing confidence in Ethereum's future. Large-scale acquisitions like this tend to increase demand, putting upward pressure on Ethereum's price. As a result, the increasing institutional involvement in Ethereum could continue to support its price growth in the coming months.

Ethereum recently raised its gas limit from 30 million to 36 million, a change backed by 49% of network validators. This adjustment allows Ethereum to process transactions more efficiently, reducing network congestion. The gas limit increase leads to 20% faster transaction speeds and a reduction in gas fees by 10-30%. This improvement will likely attract more users and investors to the Ethereum network, boosting its overall growth potential.

From a technical perspective, Ethereum appears poised for further gains. The TD Sequential indicator has recently generated a buy signal on both the weekly and daily charts. This trusted tool helps identify trend reversals, and its recent buy signal suggests that Ethereum may soon enter another bullish rally. As traders respond to this technical signal, Ethereum could see continued upward momentum.

Ethereum's transaction statistics highlight growing confidence in the asset. Notably, the number of transactions over $10 million surged by 172.97%, reflecting increasing activity from institutional and large-scale investors. As high-value transactions increase, Ethereum's role as a