On-chain data shows that Ethereum whales are accumulating again. According to data released on October 24, wallets with 100-10,000 ETH have added more than 218,000 ETH, worth approximately $870 million, to their holdings, while the price is hovering just below $4,000.
This accumulation comes after a period of extensive selling; from October 5 to 16, the same group sold about 1.36 million ETH. The return of whales to the market indicates renewed confidence in Ethereum among large investors.
As a result of these activities,
the price of ETH has stabilized slightly, reaching $3,940, with a daily growth of 0.5%. Analysts believe that these purchases are more indicative of large investors’ readiness for a long-term bullish wave, rather than short-term trading.
Given Ethereum's growing role in the stablecoin market, tokenization of real-world assets, and financial settlement systems, some predictions even see ETH rising to $5,000-$10,000 by the end of the year.
