According to Cointelegraph, Ethereum whales accumulated over 818,000 ETH on June 15, worth about $2.5 billion, marking the largest daily inflow since 2018. Analysts expect a short-term target of $4,000 for ETH, with the potential to reach $10,000.
Wallet addresses holding between 1,000 to 10,000 ETH held over 16 million ETH on the same day, compared to just 11.87 million ETH nearly a year ago. Institutional demand has surged, driving inflows into ETH investment funds.
The price of ETH has risen by 90% in the past two months but remains within a multi-month consolidation channel. Analyst Milkybull Crypto believes the current price trend is similar to the breakout pattern of 2017, and expects ETH prices to potentially rise further.