The price of Ethereum (ETH) has significantly increased over the past months, rising by 197%. Key factors behind this growth include active whale purchases and increasing institutional investments.
Increase in Ethereum Whale Holdings
According to Santiment data, whales holding between 1,000 and 100,000 ETH have increased their holdings by 14%, totaling over 5.5 million ETH purchased in the last five months. This indicates a positive market sentiment as large investors tend to make more strategic decisions.
Some Whales Buy Back at Higher Prices
Despite the overall accumulation trend, some whales have not managed to time their purchases accurately. One whale that sold 2,522 ETH in April returned to the market and acquired 1,425 ETH at a higher price in May. This highlights the difficulties of timing the market in a volatile environment.
Institutional Interest in Ethereum
In August 2023, Ethereum ETFs attracted $3.87 billion in inflows, while Bitcoin ETFs experienced $751 million in outflows. This shift indicates growing interest from institutional investors.
The price growth of Ethereum is supported by both active whale accumulation and increasing institutional investments, creating a positive outlook for the future of ETH.
