Ethereum Whales Return as ETF Sees Net Inflows After 8 Weeks

Large Ethereum investors are returning to the market. Amid the market adjustment over the past week, large investors have strongly taken the opportunity to accumulate ETH.

On-chain data shows an increase in whale holdings, while ETH-based ETFs recorded their first weekly net inflow after eight weeks, indicating a significant shift in sentiment.

ETH Accumulation by Whales and ETF Inflows Suggest Potential Price Increase

According to on-chain data, top altcoin ETH has seen a significant increase in net inflow from large investors over the past week. According to the on-chain data provider, this number has surged 2682% in the past seven days.

Large investors of an asset are typically whale addresses holding more than 0.1% of its circulating supply. The large investors' net flow index tracks the difference between the number of coins these investors buy and sell in a specific time period.

When large investors' net flow increases strongly, it indicates that whale investors are intensifying coin accumulation. This accumulation trend shows confidence in ETH's potential price increase in the future, as large investors usually act when they see value at the current price.

Adding to the optimistic story, ETH-based ETFs recorded their first weekly net inflow after eight weeks. According to SosoValue, the net inflow of ETH-based ETFs reached $157.09 million from 04/21 to 04/25, reversing the eight-week outflow totaling over $700 million.

With large investors returning to the market, ETH may be ready for a short-term price increase.

Ethereum Has Price Increase Momentum

Technically, ETH's positive Balance of Power (BoP) index shows increased demand for this top altcoin. Currently, this index is at 0.31.

This index measures the buying and selling pressure of an asset. When its value is positive, buying pressure outweighs selling pressure. This indicates strength in ETH's price movement and signals potential further price increase. If this occurs, ETH could rise back above $2,000 to trade at $2,027.

However, if market sentiment deteriorates, ETH could lose its recent gains and drop to $1,385.