Analyst: Whale Continues to Accumulate ETH, Potentially Fueling Further ETH Price Appreciation

On September 4th, according to Decrypt, as whales have been increasing their accumulation during the recent pullback in the cryptocurrency market, Ethereum is gradually showing a bullish trend. Analysts state that with the continuous inflow of institutional funds, ETH may continue to rise. Data from the on-chain analytics platform Santiment shows that whale addresses holding between 1,000 and 100,000 ETH have increased their holdings by 14% over the past five months. Bitget analyst Ryan Lee said, "Whales are reallocating their portfolios from Bitcoin (BTC) to Ethereum (ETH), driving Ethereum's upward momentum. At the same time, the growing interest in its ecosystem and the upcoming ETF launch are providing support." According to Artemis data, the increase in the concentration of whales' holdings is in line with the $9.9 billion net inflow into the Ethereum network over the past three months, along with $6.7 billion in stablecoin inflows. The influx of investors and funds reflects the resilience of Ethereum's decentralized finance (DeFi). Zilliqa CEO Alexander Zahnd stated: "The role of Ethereum has been strengthened once again. Activity is notably flowing back from Layer 2 networks to the Mainnet, especially in the DeFi space. To me, Ethereum is the preferred blockchain for institutional use due to its maturity, security, and significant development team advantage."