Ethereum Whales Return to Binance, Accumulate 301,000 ETH

Ethereum whales have made a notable return to Binance, reaching levels not seen since December 2023. This resurgence indicates a renewed interest from large investors, which could signal potential market shifts. The Average Order Size for Ethereum on Binance has spiked, reflecting increased buying activity from whale investors. Despite this heavy buying pressure, Ethereum's price remains stuck in a range between $2,400 and $2,700, with no clear breakout in sight.

The return of Ethereum whales to Binance began on May 19, with large investors aggressively re-entering the market. This behavior is often indicative of significant trends on the horizon. According to analyst Dark Frost, Ethereum’s Average Order Size has surged, suggesting that large entities are accumulating ETH. Since mid-May, cumulative whale purchases have amounted to approximately 301,000 ETH. The Large Holders Netflow has shifted from negative to a positive 108,000 ETH, indicating that buying pressure is overpowering selling activity.

Interestingly, the buying momentum is not limited to whales. Retail investors are also actively participating in the market. June data indicates that smaller investors have contributed significantly, with a Cumulative Volume Delta of +6,350 ETH—a clear sign of retail interest. The overall trend shows that Ethereum’s Exchange Inflows have sharply declined, reinforcing the narrative of accumulation. With netflows consistently remaining negative, it implies that outflows are outweighing inflows, emphasizing the market’s bullish sentiment amongst holders.

Despite the positive whale activity, Ethereum’s price remains under pressure. Currently priced at $2,512, ETH has experienced a slight drop of 0.38% within the day. The market is visibly caught in a period of consolidation, locked between the $2,400 to $2,700 range. As both bulls and bears contend, the outcome remains uncertain. While buyers demonstrate resilience, sellers are equally active. The market will need to see a decisive breakout above the $2,700 resistance for a significant upturn. Until that occurs, Ethereum may remain in its current range.