Ethereum Whales Boost Holdings, DEX Market Shows Recovery

Ethereum's market is showing promising signs of recovery, with whales boosting their holdings, net inflows increasing, and volatility finding stability. According to data from COINOTAG, the current accumulation trend among whales suggests a growing confidence in Ethereum's long-term viability.

The decentralized exchange (DEX) market for Ethereum exhibits signs of recovery, bolstered by significant whale purchases. In just 24 hours, whales executed buy transactions totaling $9.41 million, surpassing sell transactions of $6.17 million. This strong accumulation suggests a bullish trend among large investors. Both smart money (SM) and decentralized traders (DTs) are also showing signs of tentative accumulation, although their activity remains more conservative. Small DEX traders (SDTs) demonstrated a more positive stance, achieving a notable buying volume of $3.21 million versus sell volume of $2.34 million, which aligns with the sentiment that the market may be reaching a stable phase.

Ethereum's recent price trends are reflective of broader market movements. The rally observed from late 2023 into early 2024 resulted in a substantial 157.49% increase in ETH's value, showcasing strong post-correction momentum. The current price structure suggests a potential recovery pattern forming around key moving averages, indicating that a further upside could reach as much as 228.2%, aligning with historical cycles known for Ethereum's recovery from downturns.

Ethereum's total netflow reflects substantial inflows, currently at 55.34K ETH. However, the 24-hour netflow has recently dropped to –6.53K ETH, suggesting a shift toward short-term outflows. Interestingly, for the longer term, netflows are on the rise, with significant upticks of 88.89K ETH over the past week and 47.35K ETH over thirty days, indicating that despite acute selling pressure, accumulation among institutional investors persists.

In addition, Ethereum's volatility was notably high over the last thirty days; it peaked at 81.61% and cooled to 45.87% shortly thereafter, denoting sharp price fluctuations. Currently, volatility has settled around 15.47%, indicating a possible stabilization after significant fluctuations in market sentiment. High volatility