ETH is currently trading at $4,376, marking a 197% increase from its April bottom. Traders often monitor whale activity as a market signal. Large-scale selling usually signals weakness, while accumulation points to bullish expectations. 

Not all whales timed the market correctly. Some sold close to the bottom and later re-entered at higher levels. For instance, on May 22 a wallet bought 1,425 ETH for $3.8 million after selling 2,522 ETH for $3.9 million in April. 

ETF Inflows and Treasury Purchases 

Ethereum’s rally has been largely supported by ETF inflows and corporate treasury allocations. In June, Sharplink Gaming and BitMine Immersion Technologies made their first ETH purchases, during a period when ETH traded between $2,228 and $2,813. 

BitMine now holds $8.22 billion worth of ETH, making it the largest ETH treasury. Sharplink Gaming follows with $3.69 billion. Altogether, ETH treasuries own $15.83 billion in ETH, representing about 2.97% of the total supply. 

August proved strong for Ethereum ETFs, which recorded $3.87 billion in inflows. In contrast, Bitcoin ETFs saw $751 million in outflows. Meanwhile, some institutions shifted back to BTC. Arkham reported that ETFs sold $135 million in ETH while buying $332 million in BTC. 

Ethereum broke past its 2021 all-time high of $4,878, climbing to $4,934 on August 24. Fundstrat analyst Sean Farrell projects ETH could reach between $12,000 and $15,000 by year-end. On the other hand, some experts believe market focus will eventually return to Bitcoin 

 You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Ethereum Whales Add 14% More ETH Since April Price Crash appeared first on Coin Engineer.