After reaching a yearly low of $1,472 in April, there has been a significant increase in ether holdings among large investors, indicating growing interest in the asset.
Increase in Ether Holders' Holdings
According to a report by the analytics platform Santiment, whale investors holding between 1,000 and 100,000 ETH have increased their holdings by 14% over the past five months. Currently, ether is trading around $4,376, marking a 197.30% rise from its April low.
Influence of Large Holders' Activity
Despite the overall accumulation trend, some large holders made poorly timed trades. For instance, a crypto wallet spent $3.8 million to purchase 1,425 ETH on May 22 after having sold 2,522 ETH in April for about $1,570 per token.
Future Outlook for Ether
In August, the price of ether reclaimed its all-time high of $4,878, which raises optimistic forecasts. Analysts like Fundstrat’s Sean Farrell suggest that ETH could reach between $12,000 and $15,000 by the end of the year.
The increase in ether holdings among large holders and positive price forecasts highlight a renewed interest in the asset, while investor focus is gradually shifting back to Bitcoin.
