ETH Price Rises as Institutional Investors Pump in Millions
Ethereum's price has recently picked up momentum despite a broader range-bound crypto market.
The latest recovery is attributed to institutional investors steadily accumulating through spot ETFs and a mysterious whale deploying nearly $50 million into ETH.
According to Lookonchain, three newly created wallets, believed to belong to the same entity, accumulated 25,425 ETH worth roughly $50 million at an average price near $1,968. This scale of large purchases often indicates sophisticated investors positioning ahead of a potential trend reversal rather than reacting to short-term momentum.
The institutional demand has remained equally impressive, with spot Ethereum ETFs attracting more than $103.9 million in weekly net inflows, comfortably outpacing Bitcoin ETF inflows during the same period.