Ethereum Holds Steady Above $2,500 as Whales Go on a Buying Spree
Ethereum’s price has been hovering just above $2,500 this week, even with a slight dip in the broader market. What’s interesting, though, is who’s buying—and how much. Large holders, or “whales,” have been snapping up ETH at a pace not seen in years.
According to CoinMarketCap, ETH dipped about 2% in the last day and 7% over the week, but it hasn’t broken below that $2,500 mark. That might be thanks to these big players piling in. Data from Glassnode shows whales have been accumulating over 800,000 ETH daily for nearly a week, with a single-day record of 871,000 ETH added on June 12. That’s the highest daily net inflow this year.
Why This Feels Familiar
This kind of aggressive buying hasn’t happened since 2017—back when Ethereum was gearing up for a massive rally. Right now, addresses holding between 1,000 and 10,000 ETH control about 27% of the total supply. Historically, that level of concentration has often come before big price moves.
Analysts aren’t entirely sure what’s driving it. Maybe it’s institutional interest, with rumors of new ETF filings floating around. Or maybe it’s just traders betting on a rebound after ETH’s recent slump. Either way, the numbers are hard to ignore.
Staking Hits a New Record
Meanwhile, another trend is picking up steam: staking. More than 35 million ETH are now locked up in staking contracts, according to CryptoQuant. That’s an all-time high.
Staking lets holders earn rewards by helping secure the network, but it also takes coins out of circulation. Fewer ETH available to trade could mean less selling pressure—and maybe even a push toward higher prices if demand stays strong.
Some analysts think this is a sign of long-term confidence. “Accumulation addresses”—wallets with no history of selling—are also at record levels, holding nearly 23 million ETH. People aren’t just buying; they’re holding tight.
What’s Next for ETH?
The technical picture is a bit mixed. Some indicators, like the MACD, hint at short-term weakness. But with whales loading up and staking reducing supply, there’s a case to be made for upward momentum.
Of course, crypto markets are unpredictable. Prices could swing either way depending on broader sentiment or unexpected news. But for now, Ethereum seems to be holding its ground—and the big players aren’t backing down.
