"Ethereum Whales Accumulate Amidst Volatility, Hinting at Recovery"
1min read Ethereum's market dynamics have been intriguing of late, with potential signs of recovery. Over the past month, ETH's volatility peaked at 81.61% and then dipped to 45.87%.
Analyzing whale and retail buying trends on decentralized exchanges (DEXs), we find that whales have been actively accumulating ETH. Over 24 hours, whales' buy volume reached $9.41 million, surpassing sell volume at $6.17 million. This positive disparity suggests confidence among major investors. Additionally, Smart Money (SM) and Small dex Traders (SDTs) also leaned toward buying, though margins were narrower.
ETH's price action aligns with broader market trends. The previous rally from late 2023 to early 2024 saw ETH surge by 157.49%, reflecting strong bullish momentum following a bottoming structure. The current price pattern appears to be forming a similar structure near key moving averages, suggesting a potential rebound. A projected upside move of 228.2% could align with past cycles, indicating Ethereum's resilience in recovering from market corrections.
ETH's total Netflow stood at 55.34K ETH, reflecting net inflows over time. However, the 24-hour netflow dropped to -6.53K ETH, signaling a recent outflow. Over the past seven days, netflows rose to +88.89K ETH, and over 30 days, they reached +47.35K ETH, indicating a longer-term accumulation trend. These figures suggest that, despite short-term selling pressure, institutional or large holders accumulated Ethereum, aligning with whales' buying activity on DEXs.
ETH's volatility over the past thirty days peaked at 81.61% on the 25th of February and dipped to 45.87% on the 29th of January, reflecting significant price swings. At the time of writing, volatility stabilized around 15.47%, in the last 15 hours, down from a recent high. This indicates a potential calming of market sentiment, aligning with whales' buying and net inflow trends, suggesting the market might have found a bottom after intense fluctuations.
High volatility often precedes major price movements, and the current 
