The price of Ethereum is seeing notable upside in some key areas following the slight rebound above the $3,000 mark on Monday. Even though ETH lost the pivotal price level due to a broader market pullback, a certain group of investors are now starting to show increased demand for the leading altcoin.
Large Ethereum wallets re-enter the market
The Ethereum market appears to be moving once again towards a period of demand and accumulation. The behavior of ETH holders is undergoing a decisive change as observed by large investors or whales, who have returned to accumulation mode.
After several weeks of relative caution, Mlik Road, crypto and macro researcher, describe that large ETH holders have been steadily increasing their holdings in recent days. This steady accumulation is being achieved by wallet addresses holding over 1,000 ETH, signaling renewed confidence in the altcoin’s long-term outlook.
Data from the Ethereum Retail and Large Investor Holdings metric shows that whale holders have acquired over 120,000 ETH worth approximately $350 million since December 26. With ETH price facing volatility, this action indicates that smart money investors could be preparing for a major upward move, although the price movement is still measured.
Following the massive accumulationwallet addresses holding more than 1,000 ETH currently control approximately 70% of the entire circulating supply. An examination of the chart shows that this share held by the cohort has been steadily increasing since the end of 2024, reflecting the unwavering resilience of investors despite multiple sideways movements.
If this behavior continues, Milk Road pointed out that the market may not fully assess the direction that smart money is planning for ETH.
Institutions are doubling down on ETH
ETH accumulation also saw a significant increase at the institutional level as many big companies are doubling down on the leading altcoin. Lookonchain, an on-chain platform, reported that Trend Research, an investment firm specializing in secondary markets, is still accumulating USDT to buy more ETH.
After a period of steady acquisition, Trend Research has now amassed over 601,074 ETH, worth a whopping $1.83 billion. This action demonstrates the company’s strong belief in Ethereum and its expanding ecosystem.
Based on on-chain ETH withdrawal prices of Binancethe world’s largest cryptocurrency exchange, the average purchase price of the company’s reserve is $3,265 per coin. The company also borrowed a total of $958 million in stablecoins from the Aave blockchain to purchase ETH.
Bitmining Immersiona prominent public company led by Tom Lee, has also resumed its accumulation of ETH. Lookonchain highlighted that the company purchased an additional 44,463 ETH worth $130 million last week. As a result, the company now has over 4,110,525 ETH, worth a staggering $12 billion.
Featured image from iStock, chart from Tradingview.com
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