- Whale Accumulation Highlights Strong Institutional Interest in Ethereum’s Market Growth
- Trump’s Fund Boosts Ethereum Holdings, Driving Confidence in Long-Term Adoption
- Ethereum’s Bullish Momentum Points to Potential Parabolic Rise Amid Mixed Indicators
Ethereum’s market dynamics are showcasing significant shifts, with institutional activity and whale accumulation driving optimism among investors. In the last 24 hours, 13 mega whales, each holding over 10,000 ETH, joined the network. According to analyst Ali Martinez, this signals increased institutional and large-scale investor interest, highlighting a strong accumulation phase for Ethereum.
Trump’s Fund Deepens ETH Holdings
Trump’s World Liberty Financial has boosted its Ethereum holdings significantly, acquiring 3,247 ETH worth $10 million. This brings its total ETH holdings to 78,722.84 ETH, valued at approximately $257 million.
Over the last week, the fund spent $130 million to acquire 39,242 ETH, averaging a purchase price of $3,312. However, this price is currently down by 3.94%, reflecting a $5.12 million paper loss.
Notably, WLF holds 63,253 ETH in a multi-signature wallet and 19,408 ETH staked in Lido Finance. Furthermore, it is speculated to have an additional 14,611 ETH worth $46.6 million in Coinbase.
This accumulation aligns with President Trump’s crypto-friendly stance, which investors believe could ease regulations and promote adoption. Compared to pre-inauguration levels, the fund’s ETH holdings have grown by an astounding 4,000%.
Bullish Momentum and Parabolic Projections
Crypto investor Ted Pillow observes that ETH’s price trajectory mirrors its Q4 2020 behavior, hinting at a potential parabolic rise. Current market conditions, including Bitcoin’s surge and DeFi activity, echo those earlier trends.
Pillow predicts that if Ethereum surpasses the $4,000 resistance level, it could rally to $5,000 and $6,000 within 6-8 weeks. Historical data supports this, as Ethereum experienced a 150% rise during late 2020 under similar conditions.
However, challenges remain. Recent data shows outflows of $136.25 million from nine US Ethereum spot ETFs, with Grayscale, Fidelity, and Bitwise leading the sales. Despite this, BlackRock’s continued accumulation demonstrates confidence in ETH growth.
Key Technical Indicators and Price Outlook
ETH/USD daily price chart, Source: Trading view
ETH is trading at $3,196.26, up 5.07% over the last 24 hours, with a market cap of $385.18 billion. The RSI stands at 62.35, nearing overbought levels, suggesting potential consolidation. Meanwhile, the MACD reflects bullish momentum, with positive histogram bars confirming growing buying pressure.