Over the past 30 days, ETH whale wallets have been actively accumulating, with net outflows recorded on only three days.📊 The large holder netflow indicator tracks when wallets holding more than 0.1% of the total supply are buying or selling.🔍 In total, these wallets have… pic.twitter.com/om1UM9tArf — IntoTheBlock (@intotheblock) October 16, 2024 Ethereum Price Performance And Outlook While large holders have been expressing confidence through their accumulation behavior, Ethereum’s price appears to be gradually reflecting this phenomenon.
Specifically, whale wallets, which hold more than 0.1% of Ethereum’s total supply, have recorded consistent net outflows, signaling “accumulation.” According to the data, net outflows were recorded on just three days in the last month, meaning these large holders were predominantly adding to their positions.In total, over 1.7 million ETH were accumulated during this period, with 175,000 ETH purchased in the last two days alone IntoTheBlock suggests that this strong accumulation behaviour from large holders typically indicates confidence in the asset’s long-term potential.
Related Reading: Ethereum Could Target $3,400 Once It Breaks Above Bullish Pattern – Details The Quiet Accumulation Of ETH From Whales IntoTheBlock reported via its X account that Ethereum’s large holder net flow has increased notably over the past 30 days.
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