Ethereum Whales Buy $204M ETH as Price Surges Above $4,400

TLDR

• Ethereum whales purchased $204 million worth of ETH, increasing their holdings significantly in just three hours.
• The price of Ethereum surged to $4,423, marking a 1.68% increase in the last 24 hours.
• Three newly created wallets received large ETH transfers from FalconX hot wallets, with one transfer totaling over $82 million.
• Spot Ethereum ETFs saw a combined inflow of $171 million, raising total assets to $27.73 billion.
• BlackRock’s ETHA fund recorded the highest inflows of $74.5 million, followed by Fidelity’s FETH with $49.55 million.

Ethereum whales made significant moves by purchasing $204 million worth of ETH in just three hours. These transactions reflect a sharp increase in institutional demand. As a result, Ethereum’s price surged above $4,400, reaching $4,423, marking a notable 1.68% rise in 24 hours.

Ethereum Whales Make Significant Purchases

Ethereum whales raised their holdings by acquiring 46,347 ETH, valued at $204.4 million. The transfers came from FalconX hot wallets, according to blockchain tracker Lookonchain. These large-scale purchases involved three newly created wallets, with the largest transaction moving over $82 million in ETH.

The whale activity is indicative of substantial institutional interest in Ethereum. These investors appear to be strengthening their long-term accumulation plans. With multiple wallets receiving over $40 million ETH, the purchasing momentum signals strong buyer confidence.

Ethereum’s price reacted to this increase in whale activity by rising to $4,423. This movement marks a 1.68% increase in Ethereum’s price over the past 24 hours. Analysts see the $4,500 price mark as the next key resistance for ETH.

Institutional Demand Grows as Spot Ethereum ETFs Attract $171 Million

Spot Ethereum ETFs also saw significant inflows, attracting $171.5 million in one day. This pushed total net assets in Ethereum ETFs to $27.73 billion, according to SoSoValue data. BlackRock’s ETHA fund recorded the highest inflows of $74.5 million, followed by Fidelity’s FETH with $49.55 million.

Other institutional products from VanEck, Grayscale, Bitwise, and Invesco contributed a combined $40.38 million. This activity indicates an increasing demand for Ethereum from institutional investors. Such purchases are helping to fuel Ethereum’s broader market growth.

The rise in ETF inflows validates Ethereum’s growing value among asset managers. As Ethereum continues to gain traction, some analysts predict its price could reach $10,000. The surge in institutional demand further underlines Ethereum’s potential as a financial foundation.

Ethereum whales and institutional investors are playing a crucial role in ETH’s price growth. The combined $375 million inflow from whale purchases and ETF inflows signals robust institutional support. This indicates that Ethereum is gaining wider acceptance as a long-term investment.

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