Ether whales have been ramping up their
$ETH ETH buying since the token dipped to yearly lows in April, according to crypto sentiment platform Santiment.
âIn exactly 5 months, they have added 14.0% more coins,â Santiment said in an X post on Wednesday, referring to whale holders with 1,000 to 100,000 ETH, valued between $4.41 million and $440.81 million.
Ether (ETH) is trading at $4,376, and is now up 197.30% from its yearly low of $1,472 on April 9, according to CoinMarketCap.ETH treasuries now hold nearly 3% of total supply
Ether treasury companies currently hold $15.83 billion worth of ETH, which equates to roughly 2.97% of the entire supply.
Meanwhile, August was strong for Ethereum ETF funds, which saw $3.87 billion in inflows compared with Bitcoin ETFsâ $751 million outflows.
Ether could reach $15K by the end of the year, says analyst
In the same month, Ether reclaimed its 2021 all-time highs of $4,878, reaching as high as $4,934 on Aug. 24.
Some are anticipating Etherâs price to go much higher. Head of digital asset research for Fundstrat, Sean Farrell, said ETH could go as high as $12,000 to $15,000 by year-end.
Related: ETH breakout or fakeout? Traders debate whether Ether holds $4.5K
However, others suggest that most of the marketâs focus will eventually return to Bitcoin.
The
$ETH /
$BTC BTC ratio, which measures Etherâs relative strength against Bitcoin (
$BTC BTC), is down 2.27% across the past seven days, according to TradingView.
Blockchain intelligence firm Arkham said in an X post on Wednesday that âInstitutions are coming back to BTC.â
âETFS just sold $135M ETH and bought $332M BTC,â Arkham said.
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