Ethereum Whale Activity Swells to $430M as Institutional Demand Grows
Ethereum's price is gaining traction as whale activity increases and institutional demand grows through spot exchange-traded funds. The cryptocurrency has reached a critical phase, with investors assessing whether its recent recovery can develop into a larger upward move.
Whale wallets have been active recently, moving almost $430 million worth of ETH within 24 hours. This activity comes as Ethereum attempts to recover from previous declines and faces a key decision point in defending support near $1,733 while attempting to break through resistance between $1,980 and $2,080.
The growth of institutional investment in Ethereum is also notable, with the number of listed spot ETFs reaching 11. BlackRock's ETHB remained the leading Ethereum ETF by daily inflows, attracting $5.91 million and recording cumulative inflows of $529 million. Across all spot Ethereum ETFs, total net assets have grown to $10.50 billion.
The coming weeks will likely determine whether Ethereum's latest move develops into a larger market cycle or remains a short-term recovery phase.