Ethereum Surges as Whale Buys $50M Worth of Coins, Institutional Demand Remains Strong
Ethereum's price has been on the rise in recent days, bucking the trend of range-bound trading in the broader crypto market.
According to data from Lookonchain, a mysterious whale has deployed nearly $50 million into Ethereum, buying 25,425 units at an average price of $1,968. This large purchase is often indicative of sophisticated investors positioning themselves for a potential trend reversal rather than reacting to short-term momentum.
Additionally, institutional demand for Ethereum remains strong, with spot ETFs attracting over $103.9 million in weekly net inflows, outpacing Bitcoin ETF inflows during the same period.
The recovery of Ethereum's price is also reflected in its chart structure, which has begun to form a sequence of higher lows, indicating steady accumulation rather than speculative buying. A decisive daily close above $2,000 would confirm the breakout and invalidate the recent consolidation range.
With institutional demand continuing to strengthen, Ethereum could remain one of the primary beneficiaries during the next phase of the crypto market cycle.