200,000 ETH in 2 Days: Is Ethereum's Price Ready to Pump?

robot
Abstract generation in progress

TL;DR

  • Large Ethereum investors boosted their collective holdings to nearly 27 million coins (22% of supply), signaling strong confidence in the asset’s future trajectory.
  • The whale activity, paired with rising ETF inflows and decreasing exchange balances, suggests reduced sell pressure and growing demand: conditions that could pave the way for ETH’s next potential rally.

Whales on the Move

Ethereum (ETH), which posted significant gains in May and the beginning of June, has recently taken its foot off the gas pedal. Currently, it is worth just south of $2,600, but the whales’ latest activity suggests another resurgence could be on the horizon.

The popular X user Ali Martinez revealed that large investors (those having between 10,000 and 100,000 coins) purchased 200,000 ETH over the weekend.

The USD equivalent of the stash is over $515 million (calculated at current rates), while this cohort of investors now collectively owns 26.88 tokens (22% of Ethereum’s circulating supply).

The whales’ accumulation often signals confidence in ETH’s future performance. Their purchases might prompt retail investors to follow suit and create upward pressure on the price.

Additionally, the development leaves less coins available on the open market, which, combined with surging demand, could trigger a rally.

Price Forecasts

The majority of the crypto community on X also seems optimistic about ETH. The user with the moniker BATMAN claimed the asset “is gearing up for another run” based on the formation of a “megaphone pattern” on its price chart

“The first hurdle is the resistance at $3500, then the major resistance at $4,200. Altcoins will explode right after. Buckle up,” they predicted.

For their part, Crypto GEMs forecasted that the token’s next pump “will melt faces,” setting a short-term target of over $3,500

The increased amount of capital flowing into spot ETH ETFs also supports the bullish thesis. Data compiled by SoSoValue shows that the daily netflows have been positive over the past several weeks, suggesting solid interest from investors.

On the contrary, the exchange netflow has been mostly negative in the last few days. This means that an increased number of investors have shifted from centralized platforms toward self-custody methods, which reduces the immediate selling pressure.

![](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxNTE3IDYzMiIgd2lkdGg9IjE1MTciIGhlaWdodD0iNjMyIiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNSUyRjA3JTJGRVRILUV4Y2hhbmdlLU5ldGZsb3cucG5nIiBkYXRhLXc9IjE1MTciIGRhdGEtaD0iNjMyIiBkYXRhLWJpcD0iIj48L3N2Zz4=)ETH Exchange Netflow, Source: CryptoQuant

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)