Expectations for future price increases of Ethereum (ETH) are rising. In the past two days, cryptocurrency whale investors have purchased approximately 220,000 ETH, indicating strong buying pressure in the market. At the current market rate, this amounts to about $850 million (approximately 1.1815 trillion won).
According to blockchain data analyst Ali Martinez, who shared on X (formerly Twitter), whale wallets holding between 10,000 and 100,000 ETH have been actively moving and secured a massive amount over the past 48 hours. Their total holdings are currently around 28.4 million, representing 23.5% of the total Ethereum circulation.
This large-scale purchase is drawing attention as it could reduce market circulation and increase supply pressure, potentially stimulating further price increases. Particularly, the possibility that whale movements could lead to additional asset inflows from small and medium investors is being interpreted positively.
Ethereum's price has risen 54% in the past month, reaching around $3,800. Martinez predicted that "while current interest is high, the true rise will begin when breaking through $4,100". Cryptocurrency analyst Michael van de Poppe also mentioned the possibility of additional market growth if surpassing that level.
Another supporting factor for the upward trend is the increase in ETH outflows from centralized exchanges and inflows into Ethereum spot ETFs. Over the past month, more than 1 million ETH have been withdrawn from exchanges, with total holdings dropping to around 19 million, marking a 10-year low.
Strong demand is also detected in the spot ETF market. Ethereum-based spot ETF products have raised approximately $5 billion over the past 17 days. The fact that the last net outflow occurred on July 2nd proves that the ETF market continues to provide active demand.
With various positive factors converging, such as changes in supply and demand, whale accumulation, and spot ETF demand, analysis suggesting continuous price pressure for Ethereum is gaining credibility. The market is focusing on the possibility of entering a new phase after a short-term adjustment if the price breaks above $4,100.
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