Ethereum Price Soars as Whale Transactions Hit Unprecedented Levels

• Ethereum sees a significant surge in whale transactions, marking over 10,000 large transfers within a single day.
• Spot Ethereum ETFs report consecutive inflows, suggesting renewed investor interest after a recent price surge above $3,000.
• Ethereum’s bullish momentum aligns with record-breaking whale transactions, raising the potential for further price growth if trends hold.

Ethereum has recently seen a massive uptick in whale activity, setting a record in daily large transactions. Data from IntoTheBlock reveals that over 10,000 large Ethereum transactions, defined as those exceeding $100,000, were recorded in a single day, the highest figure since August. This increased activity among Ethereum’s largest holders coincides with a surge in ETH’s value on both daily and weekly charts, indicating potential market shifts driven by these influential players.

Ethereum’s Bullish Performance Amid Whale Movements

As observed, whales have recently been more active; in fact, Ethereum has been trading above $3,000 after five days of growth. This is the first time for ETH to trade above $3000 since July when it had had a slight pull-back below the level that it drastically dipped and tried to stay lower in recent months. At the time of writing, ETH is at $3,211; it has appreciated by 1.7% in the last 24 hours and is up by 13.4% in the last week.

The whale activity appears to be decisive for Ethereum’s price; the situation when large whales go on a shopping spree to purchase ETH contributes to the price rise while sell-offs from these investors put the price down. Additionally, as sentiment flows bullish, analysts expect more accumulation among the whales and increase the Ethereum price above $3,000, and possibly more.

ETF Inflows Signal Renewed Institutional Interest

In another promising sign, Ethereum-focused Exchange-Traded Funds (ETFs) are witnessing consecutive inflows after a previous slump. Data from Farside Investors shows six days of consistent inflows, underscoring increased institutional interest in Ethereum. On November 13, the nine Ethereum ETFs collectively attracted $146.9 million in inflows, an increase from the $135.9 million reported the day before.

Among these funds, Fidelity’s FETH ETF recorded the most substantial inflow, capturing $101.7 million, followed by BlackRock’s ETHA and Bitwise’s ETHW, which drew $35.6 million and $13 million, respectively. Conversely, Grayscale’s ETHE fund experienced outflows totaling $5.6 million. This contrast suggests that while some investors may be re-evaluating specific products, the overall institutional interest in Ethereum remains strong.