Significant accumulation of Ethereum (ETH) was observed by large holders on Thursday, with a net inflow of 267,000 ETH, marking the highest daily accumulation since March, as reported by market intelligence platform IntoTheBlock. This influx showcases the sustained interest and engagement of major ETH investors despite the fluctuations in the crypto market.
The netflow of ETH among large holders has seen notable variations from March to early June. There was a sharp increase in mid-March, followed by multiple peaks and troughs throughout April, with consistent oscillations in May. A significant spike was recorded on June 6th, with a net inflow of approximately 267,870 ETH.
Interestingly, the price of ETH has remained relatively stable in black, despite these net flows. The market has shown resilience in absorbing large trades without significant volatility. On June 6th, ETH’s price saw a slight rise to $3,818.90, coinciding with the substantial net inflow.
In addition to these activities, Ethereum has experienced a surge in the creation of new wallets. As per The Crypto Basic, 267,000 new addresses were generated on Ethereum on April 28th and 29th, marking the highest two-day increase since October 2022. This surge indicates a robust expansion of the Ethereum network even amidst a decline in ETH prices.
Furthermore, there has been a notable increase in the number of Ethereum addresses holding a balance of at least 10,000 ETH. This rise in such addresses aligns with a resurgence in large-scale accumulation among prominent Ethereum investors, commonly known as “whales.”
Looking ahead, VanEck has predicted that Ethereum could potentially reach $22,000 by 2030.
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