Ethereum whale activity has seen a marked increase since late November, with on-chain data revealing a considerable increase in the number of ETH addresses holding balances above $10,000. It’s not just about small whales; mega-whale addresses have also seen a significant increase since the beginning of December.
As the price of Ethereum assets rises above the $3,330 threshold, these whales continue to invest. Meanwhile, the rise of Ethereum exchange-traded funds (ETFs) reflects growing interest from institutional investors.
Crypto analyst Ali Martinez, referencing data from Glassnode, noted a considerable increase in Ethereum on-chain whale activity. Since the beginning of December, there has been a marked increase in the number of active addresses with balances above $10,000.
Additionally, the data revealed that the 30-day change in the number of mega-whale addresses saw a significant increase since the beginning of December, peaking around the 9th. The number of active addresses also increased since mid-November.
Recently, Lookonchain reported a whale buy of 1,800 ETH worth $7 million while the asset was trading around $3,900. According to the blockchain analytics company, this particular whale has amassed 39,600 ETH since May 24 of this year at an average purchase price of $2,487.
At the time of publication, Lookonchain noted that the whale had $54 million in unrealized profits. Interestingly, on November 13, Lookonchain reported that a new whale had entered the scene, purchasing 7,389.5 ETH worth $23.44 million and amassing 18,049 ETH, or approximately $59.3 million. dollars, over a period of three days.
In an article Ethereum spot ETF. Ash Crypto also highlighted regulatory changes favorable to decentralized finance under the Trump administration as a potential catalyst for Ethereum’s growth.
Data from Dune Analytics reveals that over 34 million ETH is currently staked, representing over 28% of the total ETH supply. Lido Liquid Staking Protocol holds the lion’s share of ETH staked at 28.48%, followed by Coinbase and Binance at 10% and 5% respectively.
Ethereum spot ETFs in the United States reflect this growing demand for the asset. ETF tracking website SoSoValue reports that U.S. Ethereum spot ETFs have seen positive inflows since November 22, peaking on November 5 at a staggering $428.44 million.
On December 13, these ETFs saw inflows of $23.61 million and the day before, $273.87 million. Currently, ETH ETFs manage assets worth $13.78 billion, representing 2.92% of Ethereum’s total supply.
According to data from CoinMarketCap, Ethereum is currently trading at $3,959, with a total market cap of $476.8 billion and a 24-hour trading volume of $30.3 billion. Over the past week, the asset has climbed 2% and remained stable over the past 24 hours.
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