Ethereum Whale Addresses Surge as ETF Inflows Reach New High

Ethereum whale addresses have reached multi-month highs, indicating strong accumulation near yearly lows. The price of Ethereum is currently trading around $1,963. This increase in whale activity coincides with three consecutive weeks of inflows into US spot Ethereum ETFs, suggesting renewed institutional interest.

However, active Ethereum addresses remain below previous peaks, which could indicate that network usage has yet to confirm the rally. A sustained close above $2,000 could push ETH toward a target price of $2,438, but rejection could lead to a retest of lower support levels around $1,754 to $1,600.