The latest data from IntoTheBlock reveals that significant holders of Ethereum (ETH) witnessed a substantial net inflow of 267,000 ETH on Thursday, marking the highest daily accumulation since March. This influx highlights the continued interest and engagement of major ETH investors despite the ongoing fluctuations in the cryptocurrency market.
Over the past three months, there have been notable fluctuations in the netflow of ETH among large holders. From a sharp increase in mid-March to various peaks and troughs throughout April, and consistent oscillations in May, the trend culminated in a significant spike on June 6th with a net inflow of approximately 267,870 ETH.
Interestingly, despite these fluctuations, the price of ETH has remained relatively stable. The market has shown resilience in absorbing large trades without causing significant volatility, as evidenced by the slight price increase to $3,818.90 on June 6th coinciding with the substantial net inflow.
Furthermore, Ethereum has experienced a surge in the creation of new wallets, with 267,000 new addresses established on April 28th and 29th, marking the highest two-day increase since October 2022. This growth indicates a robust expansion of the Ethereum network even amidst price fluctuations.
Moreover, there has been a notable rise in the number of Ethereum addresses holding a balance of at least 10,000 ETH, signaling a resurgence in large-scale accumulation among prominent ETH investors, commonly known as “whales.”
Looking ahead, VanEck has predicted that Ethereum could reach $22,000 by 2030. However, it is important to note that this content is for informational purposes only and should not be construed as financial advice. The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic holds no responsibility for any financial losses incurred.