Ethereum (ETH), a popular cryptocurrency and decentralized platform (learn more about Ethereum), is having a quiet end to December in terms of price changes. However, data shows that big investors, often called ‘whales,’ are buying a lot of Ether. Whales are people or institutions that hold large amounts of cryptocurrency.
Big Investors Add More Ethereum
Recent data reveals that wallets holding between 10,000 and 100,000 ETH have been increasing their balance quickly. The total ETH these accounts hold increased from around 17–18 million to over 21 million in just a short time. This is a noticeable jump compared to earlier trends.
One cryptocurrency expert, Joseph Young, said this is the highest-ever accumulation of ETH by whales. These buyers are usually long-term investors or large financial institutions rather than individual, short-term traders.
“Whale accumulation of ETH is at an ALL-TIME HIGH.” – Joseph Young, Crypto Analyst
The ongoing activity implies that these investors believe in Ethereum’s future value. Right now, Ethereum is one of the most important platforms in the crypto world. It supports decentralized finance (DeFi), smart contracts, and other blockchain-based tools (explore DeFi and how Ethereum powers it).
Ethereum Leads in DeFi and Stablecoins
Ethereum remains the number one choice for decentralized finance (DeFi) applications and stablecoins. According to a research group called Conviction Capital, Ethereum holds 68% of the total value locked in DeFi. This means most of the money being lent, borrowed, or traded in DeFi is tied to Ethereum. Additionally, over 64% of all stablecoins, which are cryptocurrencies that aim to have constant value like traditional money (learn more about stablecoins here), are created on Ethereum.
Even major companies like JPMorgan are creating financial tools on the Ethereum network. This shows that Ethereum’s use by big institutions is growing.
Institutions are Buying Ethereum
Large organizations are also purchasing Ethereum. For example, a company named Bitmine Immersion Technologies has recently added 98,852 ETH to its assets. This purchase is worth about $953 million, showing confidence in Ethereum’s potential.
Less Ethereum on Exchanges
Data from CryptoQuant, a blockchain analytics platform (what is CryptoQuant?), shows that the amount of ETH on cryptocurrency exchanges is steadily dropping. This year’s supply on exchanges fell from 20.8 million to 16.4 million tokens.
When ETH leaves exchanges, it is often stored in personal wallets, staking contracts (used for earning rewards), or other secure places. This trend suggests investors aren’t planning to sell their Ethereum soon. Instead, they are holding onto it for the long run.
Ethereum’s Price Around Important Levels
The current price of Ethereum is about $2,940. It has gone up slightly over the past week but without strong momentum. Experts are closely watching a technical indicator called the 200-week exponential moving average. This level helps experts analyze the long-term price movement.
If the price holds above this level, analysts at CryptoPulse believe it could keep stability or increase slightly. However, if it drops below this level, Ethereum might fall further to a range between $2,000 and $2,100. Another expert, CryptoWZRD, thinks staying above $3,060 could help Ethereum rise in the short term, while $2,800 acts as a critical minimum price level.
Ethereum remains a strong player in the cryptocurrency world, and large investors are showing confidence in its future. Even as the price moves slowly, both big and small holders seem to be preparing for long-term gains.