- Ethereum is holding steady around $2,500 as whale addresses and institutional investors continue to accumulate, despite a recent slowdown in Spot ETF inflows.
- Record-high network activity and stable whale positioning suggest growing confidence in ETH’s long-term outlook.
Record-High Network Activity and Strategic Whale Moves Point to a Bullish Outlook for ETH
Ethereum (ETH) is showing remarkable resilience at the $2,500 level, even as market sentiment remains mixed. Despite some turbulence in spot ETF netflows, institutional and whale interest in ETH appears far from waning—hinting at a strategic accumulation phase that could set the stage for a potential breakout.
All-Time High in Network Activity
Ethereum just recorded a new milestone, with weekly active addresses surging to an all-time high of 17.4 million. This spike in activity suggests growing retail and institutional engagement, even as cross-chain activity declines. The surge comes at a time when many market participants are looking for reassurance in ETH’s fundamentals—and this level of usage may provide just that.
Spot ETF Netflows Slow, But Momentum Could Return
According to data from Coinglass, Ethereum Spot ETF inflows were largely positive through most of the past six weeks. However, since June 5, there has been a noticeable cooldown. While this short-term drop has raised eyebrows, analysts believe it may just be a temporary pause rather than a trend reversal. If ETF inflows pick back up, it could act as a strong catalyst for price action in the weeks ahead.
Whale Activity Suggests Strategic Patience
The whale address count (holding 1K–10K ETH) spiked earlier this year, rising from 4,808 to 4,954 between March 31 and April 13. Though there has been a slight dip since then, the numbers have remained largely stable over the past two months. This stability suggests that large holders are neither aggressively selling nor panic accumulating—hinting at strategic patience.
Interestingly, whale order books show heavy sell walls at $2,700–$2,800, while buy orders cluster around $2,370–$2,460. This could mean that ETH is currently in a range-bound phase, with big players waiting for a decisive market move.
Bullish Tailwinds from Bitcoin’s Momentum
With Bitcoin (BTC) showing strong recovery signs recently, there’s a good chance bullish sentiment will spill over into Ethereum. If ETF flows resume and network activity continues to climb, ETH could soon test higher resistance levels.
While Ethereum’s immediate price direction remains uncertain, underlying signals—from all-time high user activity to whale positioning—suggest that the $2,500 level is more than just a coincidence. Institutional giants may be playing the long game, and retail investors might want to take note.
