After a strong rally last month that catapulted Ethereum to a fresh all-time high near $5,000, the altcoin suffered a choppy price action.<\/p>\n
However, Ethereum is making a push to reclaim the crucial $4,500 level, as deep-pocketed ETH whales quietly load up in the background.<\/p>\n
Ethereum is seeing steady accumulation from mid-sized whales and sharks holding 1,000-100,000 ETH.<\/p>\n
Over the past five months alone, these influential investors have boosted their holdings by 14%, amidst growing confidence, according to the latest data shared<\/a> by Santiment. This trend started when ETH was trading near yearly lows of around $1,800-$1,400.<\/p>\n Such a pattern can provide strong support for the altcoin\u2019s ongoing price momentum.\u00a0Beyond these mid-sized wallets, Altcoin Vector zooms in on specific whale cohorts and found that the buying activity from these hodlers also aligns with ETH\u2019s broader price impulse.<\/p>\n Its data revealed<\/a> that Ethereum is breaking free from the bearish compression that has weighed on its price, but a decisive push beyond $5,000 depends on renewed whale accumulation. Their analysis highlights that between mid-July and August, mega whales holding at least 10,000 ETH, followed by large whales with 1,000-10,000 ETH, significantly increased their holdings.<\/p>\n Interestingly, these periods of accumulation coincided with the development of Ethereum\u2019s aggregate impulse, which points to the influence of strong hands on price momentum. For ETH to clear the all-time-high zone without stalling, a similar wave of conviction-driven accumulation is essential. While there is visible spot demand for Ethereum, derivatives-led speculation has played a larger role in moving the price recently.<\/p>\n However, a breakout above resistance could change this, and boost spot-driven confidence to spark the next strong impulse. If such momentum materializes, Ethereum may finally overcome prior highs and establish itself firmly above the $5,000 threshold.<\/p>\n The popular crypto analyst Ali Martinez reported<\/a> that 500,000 ETH, worth around $2.1 billion, was withdrawn from centralized exchanges over the past week.<\/p>\n Large-scale outflows like these are often interpreted as investors moving assets into self-custody, which can lower selling pressure on exchanges at a time when the asset is attempting to reclaim key resistance levels.<\/p>\n The post Ethereum Whales Boost Holdings by 14% in 5 Months as Price Targets $4,500<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" After a strong rally last month that catapulted Ethereum to a fresh all-time high near $5,000, the altcoin suffered a choppy price action. However, Ethereum is making a push to reclaim the crucial $4,500 level, as deep-pocketed ETH whales quietly load up in the background. Whale Buying Spree Ethereum is seeing steady accumulation from mid-sized […]<\/p>\n","protected":false},"author":0,"featured_media":93905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-93904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/93904"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=93904"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/93904\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/93905"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=93904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=93904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=93904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}500,000 ETH Leaves Exchanges<\/h2>\n