Faced with promising signals on the crypto market, major investors (“whales”) are massively accumulating Ethereum. This trend, coupled with a significant increase in new wallets, suggests upside potential for the second largest cryptocurrency by capitalization.
Record accumulation by major crypto investors
On-chain data revealed by analytics firm Santiment shows unusual activity from large Ethereum wallets since October 24. These institutional investors, commonly known as “whales”, intensified their purchases even as the price of ETH experienced a temporary correction to $2,380.
This accumulation is accompanied by a record creation of new wallets, reaching 6,428 wallets in one day – a level not seen since the beginning of September.
Analysis on-chain movements reveal that these large investors favor a long-term accumulation strategy, rather than speculative transactions. This trend is particularly significant because historically, such concentrated buying by whales often precedes significant bullish movements.
The confidence of institutional investors seems notably motivated by recent technical developments in the Ethereum ecosystem, including the improvement of scalability solutions and the continued growth of DeFi.
Favorable technical signals despite volatility
The crypto market is currently going through a phase of high volatility, marked by a renewed interest in memecoins and a general feeling of FUD (Fear, Uncertainty, Doubt). Paradoxically, this period of uncertainty coincides with a strategic accumulation on the part of large investors.
Trading data shows that Ethereum maintains its position above psychological support at $2,600, posting a 1.9% advance over 24 hours. This resilience, combined with the influx of new wallets, suggests growing confidence in crypto fundamentals.
The Ethereum ecosystem is also benefiting from the growth of other blockchain projects like Solana ($181), Jito, and Jupiter, which are helping to strengthen the overall adoption of decentralized technologies.
In short, the massive accumulation of Ethereum by whales, combined with the record creation of new wallets, constitutes a potentially bullish signal for the weeks to come. Although the market remains volatile, the confidence shown by large investors and the resilience of the price suggest that ETH could experience a new phase of appreciation.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
